Strong demand boosts copper

SHANGHAI: London copper prices rose more than 1 percent yesterday, as investors optimistic about next year's market prospects built positions ahead of the year-end.

The arbitrage window between Shanghai and London has opened, at around 400 yuan in favor of imports, lifting hopes that China's imports may rise from levels seen in the past month or two, adding to already bullish sentiment in the market.

"Chinese are buying with expectations of better prices next year, as traders elsewhere are closing their positions ahead of the holidays," said a Shanghai-based trader.