The most-traded May copper contract on the Shanghai Futures Exchange was up 0.5% to 68,400 yuan ($9,982.34) a tonne. The focus is now likely to return to fundamentals, ANZ Research said in a note, adding that sentiment was supported by signs of stronger demand in China early this week. Copper demand in China, the world's top consumer, has been improving in the wake of seasonal demand pick-up, along with post-pandemic economic recovery. Globally, the world's refined copper market had a 103,000-tonnes surplus in January, compared with a 10,000-tonnes surplus the previous month, the International Copper Study Group (ICSG) said in its latest monthly bulletin. LME zinc slid 0.2% to $2,861, tin was down 0.7% to $23,240, lead eased 0.1% to $2,113.50, while aluminium climbed 0.3% at $2,294 a tonne. SHFE aluminium edged up 0.3% to 18,200 yuan a tonne, nickel slipped 0.2% to 174,230 yuan, tin advanced 0.6% at 187,940 yuan, while zinc shed 0.6% to 22,135 yuan, lead climbed 0.2% to 15,365 yuan. For the top stories in metals and other news, click or ($1 = 6.8521 Chinese yuan) (Reporting by Siyi Liu and Dominique Patton; Editing by Varun H K)
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