Copper surges

Sydney : London copper hit a fresh four-year high on Thursday on signs of strong demand from China next year.

Commodities traders said some profit taking emerged at the higher end of copper´s price rise, but was held in check somewhat by a weaker U.S. dollar.

Non-U.S. holders of U.S. dollar-denominated commodities, such as London Metal Exchange contracts, typically sell into a stronger dollar.

Three-month copper on the London Metal Exchange rose 0.8 percent to $7,297 a tonne by 0700 GMT, its highest since January 2014, when it hit $7,460 a tonne, according to Thomson Reuters data.

Prices of the metal used widely in power and construction are up 30 percent in the year to date.

The most-traded copper contract on the Shanghai Futures Exchange ended 1.2 percent up at 55,770 yuan ($8,525.44) a tonne.