Melbourne : London copper prices climbed off seven-week lows on Thursday, buoyed by solid China import figures that bolstered optimism over the health of demand from the world´s biggest metals user.
China´s trade machine kicked up a gear in January after stumbling the previous month, with exports and imports both growing much more than expected, getting the economy off to a solid start to the year.
However, with jitters in wider markets following an equity shakeout this week, and an approaching holiday in China set to crimp near-term metals demand, metals markets looked vulnerable, broker Kingdom Futures said in a report.
"The metals have started the day on a nervous footing and as the Chinese holiday approaches there could yet be another round of selling before the weekend.