Copper futures rose in Shanghai as imports into the world’s largest consumer of the metal used in electrical wiring and pipes jumped last month. Copper advanced after imports gained 32 percent in December to 286,576 metric tons, the Beijing-based customs office said yesterday, citing preliminary data. “The number yesterday was on the high side but expectations for imports this year are still going to be lower, and this will keep any rally in check,” Li Jingyuan, an analyst at Haifu Futures Co. said today from Shanghai. Copper for March delivery on the Shanghai Futures Exchange, the most active contract, added as much as 4.4 percent from the previous settlement price to 28,200 yuan ($4,126) a ton, and traded at 27,120 yuan a ton by the 11:30 a.m. local time break. London Metal Exchange copper traded down 1.4 percent at $3,322 a ton, after rising as much as 1.2 percent earlier. China imported 2.6 million tons of copper and the metal’s products last year, down 5 percent from 2007, the customs office said, citing preliminary data. Still, weakening demand signaled by rising stockpiles will continue to limit copper’s gains, said Li. Inventories tallied by the London Metal Exchange climbed to a five-year high of 374,850 tons yesterday. Among other LME-traded metals, aluminum was unchanged at $1,515 a ton, and zinc lost 1.3 percent to $1,292 a ton as of 11:06 a.m. in Singapore. Tin added 0.4 percent to $11,650 a ton, while lead and nickel had not traded.

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