On Wednesday, the price of copper is retreating from a 6.5-year low, as the last China's trade figures slightly decreased concerns about the health of the second largest economy in the world, and reported high demand for industrial metals.
China's exports fell in December by 1.4% in annual terms, much better than the forecast about a decline of 8.0%, while imports fell 7.6% compared to expectations of a collapse by 11.5%. As a result, China's trade surplus last month amounted to $ 60.10 billion from $ 54.10 billion in November.
Chinese copper imports grew in monthly terms in December by 15.2% to 530.000 tons, almost to a historic high, reducing concerns about a possible reduction in demand from the Asian nation.
As of 07:45 GMT copper for March delivery traded on the Comex division of the New York Mercantile Exchange, rose 0.7 cents, or 0.35%, to $ 1.966 per pound.
A day earlier, copper fell to $ 1.952, the lowest level since April 2009, as investors cut holdings of industrial metals amid persistent concerns about future demand from the main consumer which is China.
Meanwhile, on London Stock Exchange, three-month copper contract rose 0.62% to $ 4384.50 per ton. On Tuesday, the price reached $ 4344.50, the lowest level since May 2009.
In 2016, copper prices lost 7.5%, as the crisis in the stock market and a sharp devaluation of the Chinese Yuan undermined market sentiment.
The Asian country is the world's largest consumer of copper, with its share of almost 45% of world consumption last year.
On Wednesday, gold futures fell to a week low, as demand for safe-haven assets weakened against the background of recovery in the global stock markets.
As for oil, on Tuesday, prices have fallen to 12-year low for some time dropping below $ 30 a barrel. According to EIA, the average Brent price in 2016 will be $ 40 and $ 50 in 2017, and WTI Brent will be cheaper by an average of $ 2 in 2016 and $ 3 in 2017.