The most-traded April copper contract on the Shanghai Futures Exchange advanced 0.8% to 68,110 yuan ($10,541.71) a tonne, having hit its highest since August 2011 at 68,880 yuan a tonne earlier in the session.
Support is at 3,624 ringgit, a break below which could cause a fall into the 3,466-3,545 ringgit range. On the daily chart, the contract may break a resistance at 3,581 ringgit, following its failure on Feb. 15.
The exact move on Thursday remains unclear. The contract may open lower and retreat towards 3,521 ringgit or open high but close below 3,634 ringgit. A consolidation around 3,634 ringgit is highly anticipated.