But gains to the reddish metal are unlikely to continue later this week when euro zone leaders convene for two days of summits in Brussels to address the sovereign debt crisis. The industrial metal is sensitive to economic and financial developments due to its myriad uses in manufacturing, construction and other similar-type industry.
"Europe is still a huge problem, and it's difficult to know if they can come to any conclusion to get out of the mess," analyst Nic Brown with Natixis told the news source. "Commodities have shown a little more resilience than the wider markets, with equities taking a big hit. But our view remains that the situation will improve in China in the second half."
At 9:47 a.m. on Tuesday, copper futures edged up 0.08 percent, a 0.0025 lift to $3.328 per pound.
Chile, a top provider of the reddish metal, says that demand it from China, the globe's largest consumer, continues running strong despite economic hiccups in the Asian nation, according to The Globe and Mail.
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