London copper rose on Wednesday, supported by a weaker dollar and by the rebound in prices from a psychological support level and by some overdraft hedges.

Three-month copper on the London Metal Exchange (LME) was up 0.5% to $9,578.50 per metric ton at 04:01 GMT, rebounding from a three-week low hit in the previous session.

The most traded November copper contract on the Shanghai Stock Exchange (SHFE) fell by 0.4% to 76,610 yuan ($10,770.12 dollars) per ton, following overnight losses in London.

The dollar index fell slightly on Wednesday, although it is still trading near a two-month high, amid expectations that US interest rate cuts would be gradual.

A weaker dollar makes dollar-denominated metals cheaper for holders of other currencies.

“Everyone is just waiting for various announcements (from China),” said one trader, adding that $9,500 is a level of technical and psychological support.

“Prices fluctuate and fluctuate,” the trader added. Another trader added that there were short hedging trades ahead of a press conference on the Chinese real estate sector, scheduled for Thursday.

Further details on China's stimulus measures may be revealed at the country's National People's Congress later in October.

At the end of September, metal prices jumped after a rate cut in the United States, which weighed on the dollar, as well as promises from China of strong stimulus measures to stimulate the economy.

LME aluminum increased by 0.7% to $2,588.50 per ton, zinc increased by 0.2% to $3,058.50, lead increased by 0.4% to $2,088, lead increased by 0.4% to $2,088, pewter increased by 0.6% to $32,595 per ton, while nickel fell by 0.1% to $17,405.

SHFE aluminum fell by 0.2% to 20,685 yuan per ton, nickel fell by 0.6% to 132,940 yuan, while zinc remained almost stable at 25,025 yuan, lead rose by 1.3% to 16,725 yuan, and tin rose by 0.9% to 266,000 yuan, while zinc remained almost stable at 25,025 yuan, lead rose 1.3% to 16,725 yuan per ton, and tin rose 0.9% to 266,000 yuan.