Copper prices gained for the fourth day to its 15 month high in morning trades in Shanghai on sings that the global recovery would renew demand for the industrial metal.
Copper for March delivery on the Shanghai Futures Exchange was trading at 56,070 yuan per tonne at 9:47 am Singapore time, after earlier touching 56,170 yuan a tonne, the highest level since September 5, 2008.
Copper for three-month delivery on the London Metal Exchange added 0.3% to $7,145 a tonne at the same time. Copper for March delivery on the Comex division of the New York Mercantile Exchange was little changed at $3.2625 a pound after surging to $3.2730 a pound on Wednesday, the highest price for a most-active contract since September 23, 2008.
The rise in base metal prices is seen as a sign of a recovery globally.
Copper has more than doubled this year, while the Dollar Index has declined 8.3% as investors bought commodities as a safe haven investment bet.