In London, market players are looking for new signs of demand after a recovery triggered by Chinese stimulus measures. However, copper prices in London rose on Monday to hover around $10,000 per metric ton

Le cuivre à trois mois sur le London Metal Exchange (LME) a rose by 0.4% to 9,985.50 dollars per ton at 02:17 GMT, aluminum rose by 0.5% to 2,666 dollars and zinc rose slightly by 0.1% to 3,170 dollars.

Lead rose 0.6% to $2,161.50 per ton at LME, tin rose 0.2% to $33,875, while nickel fell 0.8% to $17,840. Copper prices are trading around $10,000 per ton, a key level of resistance, as players in China, the main consumer country, are on vacation and the volume of trade is therefore low

A series of Chinese stimulus measures announced in late September pushed the entire base metals complex higher, with LME copper rising by 6.4% last month, its best monthly increase since April.

However, as prices approached the $10,000 level, some market players were waiting for the Chinese markets to reopen to see if physical demand was intact.

“The feeling was particularly positive among Chinese participants at LME Week in London. This is in contrast to the relatively bearish mood of most of their Western counterparts,” ANZ analysts said in a note, referring to the annual gathering of metal industry players in London the week of September 30

LME copper stocks have declined slightly since September, but remain nearly three times higher than the level observed in May. The LME copper spot contract traded on Friday at a discount of $147.09 per ton compared to the three-month contract, which suggests abundant supplies