In a sign of improving liquidity, Chinese banks extended far more new loans in December than expected, bringing last year's tally to a record $2.4 trillion.
Visible copper stocks around the world are "relatively low" and could support prices, brokerage GF Futures said in a note, but warned that Chinese copper demand could still take a turn for the worse.
China copper import premiums <SMM-CUYP-CN> have risen to $73 a tonne from an 18-month low of $62.50 in early December, indicating greater near-term demand for the physical metal.
FUNDAMENTALS
* LME COPPER: Three-month copper on the London Metal Exchange was up 0.8 percent at $5,968 a tonne, as of 0705 GMT, extending Tuesday's 0.4 percent gain.
* SHFE COPPER: The most-traded March copper contract on the Shanghai Futures Exchange closed up 1.1 percent at 47,380 yuan ($7,004.94) a tonne, marking its first gain in four sessions.
* BREXIT: British lawmakers defeated Prime Minister Theresa May's Brexit divorce deal by a crushing margin on Tuesday, triggering political chaos.
* CHINA: China on Tuesday signalled more stimulus measures in the near term as it aims to achieve "a good start to 2019" in the first quarter.
* ALUMINIUM: London aluminium rose as much as 1.7 percent to a one-week high of $1,876.50 after the U.S. Senate voted to move ahead with a resolution disapproving of a Trump administration plan to ease sanctions on Russian aluminium giant Rusal.
* ALUMINA: Norsk Hydro said Brazil's northern state of Para has lifted a production embargo on its Alunorte alumina refinery but noted full production will not resume until a federal court follows suit.
* OTHER METALS: Zinc rose as much as 2.6 percent in Shanghai to 20,890 yuan a tonne, the highest since Dec. 21, before closing at 20,860 yuan. The metal used to galvanise steel was also up 1.7 percent in London. Shanghai nickel closed up 1.6 percent at 93,230 yuan a tonne after hitting its highest since Dec. 3, 2018.
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MARKETS NEWS
* Global share markets and the sterling weathered a UK political storm as investors wagered that London will have no choice but to delay its Brexit deadline to avoid a disorderly exit from the European Union.