Copper climbs, but investors nervous after corrections

SINGAPORE: Copper rose 1 percent in London and Shanghai yesterday, reversing early losses to build on the previous session's gains, but the temptation to pick up metal 15 percent off recent highs was tempered by worries of a fresh downward leg.

Copper and zinc added to gains of 3 and 4 percent respectively in the previous session after three weeks of selling pulled prices off their highest in a year-and-a-half or more.

"The market is still pretty nervous following the recent corrections. We are attempting to consolidate. There is some buying at these lower levels, but volumes may start to slow ahead of the Lunar New Year," said Barclays Capital analyst Yingxi Yu.