Copper futures climbed in Shanghai, paring a weekly decline, on optimism a 4 trillion yuan ($585 billion) stimulus package to revive economic growth in China is taking effect. The economy of the world’s largest consumer of the metal used in electrical wiring and pipes may expand 6.6 percent in the second quarter after growth slowed to 6.3 percent in the three months to March 31, the weakest pace since 1999, according to the median estimates of 14 economists surveyed by Bloomberg News. “Funds in China are putting a lot of money on the table on hopes the economy will recover with the various government measures,” Liu Biyuan, an analyst at GF Futures Co., said from Guangzhou today. Copper for May delivery on the Shanghai Futures Exchange, the most-active contract, rose as much as 1.3 percent to 28,750 yuan ($4,207) a metric ton before closing at 28,440 yuan. Futures fell 0.6 percent this week, tracking a drop in London copper, on skepticism U.S. government measures won’t revive the world’s largest economy, leading to further gains in inventories that are at a five-year high. Based on settlement prices, the contract gained 1.4 percent this week. Copper in London traded up 0.9 percent at $3,445 a ton at 3:04 p.m., down 2.7 percent for the week. March-delivery copper on the Comex division of the New York Mercantile Exchange gained 1 percent to $1.5495 a pound. “Fund activity has definitely picked up after the Lunar New Year holidays and they are trading very aggressively, evidenced by the smaller loss in Shanghai compared with London,” said Liu. China’s markets were closed for the holiday in the last week of January. Among other LME-traded metals, aluminum rose 0.6 percent to $1,384.50 a ton, zinc gained 0.5 percent to $1,161, lead added 1 percent to $1,150.25, nickel was up 1.4 percent at $10,430 and tin climbed 0.5 percent to $11,150 as of 3:06 p.m. in Singapore.

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