The most-traded March copper contract on the Shanghai Futures Exchange inched up 0.22 percent to 55,170 yuan ($8,700) a tonne on Wednesday. Copper is among the worst performing commodities this year, as concern that global growth will slow prompted some investors to shift to safer holdings such as the US dollar.
"There's no safe haven except for cash," said Tan Teng Boo, who helps manage about $350 million at Capital Dynamics in Kuala Lumpur. "The euro zone problems are not solved yet. The US dollar is the one that may outperform next year, not commodities."