Copper prices continued to advance for a third day today on speculation of cooling inflation in China, the world’s largest consumer, which may provide room for the government to ease monetary policy to spur growth and demand.
 
Chinese consumer prices rose 4.1% in December from a year earlier, the smallest gain in 15 months, while producer prices gained 1.7%. Additionally, strength in copper prices been supported this week after data showed a rise in imports of the metal by China, which accounts for 40% of the refined metal's global consumption. China’s appetite for commodities remained resilient in December, with trade data showing copper imports hitting record levels and iron ore imports remaining strong. Copper prices reported their biggest gain in six weeks after Chinese data showed that imports of copper in December hit a high of 508,942 tonnes, up 47.7% from the previous year.
 
Separately, Mizuho Corporate Bank announced that they expect copper prices may gain as much as 25% in the second half of this year on steady demand from China and amid tight supplies. By mid-morning, copper futures for March delivery had jumped 1.64% to $3.60 a pound.