Copper prices rose on Tuesday on optimism after data showed that the fast growth in US consumer prices is slowing down.
Copper for March delivery rose 3.1% on the Comex market in New York to $3.92 a pound or $8,624 a tonne.
The most traded January copper contract on the Shanghai Futures Exchange fell 0.3% to 66,070 yuan ($9,466.16) a tonne.
US inflation stood at 7.1% in the 12 months to the end of November, down from 7.7% in October, US Department of Labor data shows.
It was the slowest pace in almost a year and better than analysts expected.
Metal markets have rallied recently on hopes that US inflation has peaked, allowing the central bank to slow down its rate hikes.
The pressure on the market came from uncertainty in China after it recently began easing quarantine restrictions.
“We believe that inbound migration during the Chinese New Year period at the end of January could lead to an unprecedented spread of the coronavirus,” said Ting Lu, chief China economist at Nomura.
Companies in China have struggled to maintain normal operations amid rising infections.
“I think the market doesn't understand how to approach China's short-term outlook. On the one hand, prices are being supported because it is reopening, but we are concerned that we may weather a period of massive surge in cases,” Hansen said.
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