Copper prices rose on Monday, as falling stockpiles in exchange warehouses in top consumer China and shortage of scrap metal boosted demand for refined copper.
Three-month copper on the London Metal Exchange rose 0.6 percent to $9,384.50 a ton, while the most-traded October copper contract on the Shanghai Futures Exchange advanced 0.8 percent to 69,580 yuan ($10,760.55) a ton.
ShFE copper inventories on Friday fell for the seventh straight week to 44,629 tons, their lowest since June 2009.
Tighter restrictions and supply disruptions also limited supplies of scrap copper, forcing some users to switch to copper cathode for consumption.
Yangshan copper premium rose to $114 a ton, suggesting improving demand to import the metal into China, and LME cash copper premiums over the three-month contract was at $11.25 a ton, indicating tight nearby supply.
