Copper has closed higher on the London Metal Exchange (LME), rebounding after the previous session's slide.
At the PM kerb close on Thursday, the LME's three-month copper contract was up 0.8 per cent at $US6,560 a metric ton.
Aluminium closed 0.5 per cent higher at $US1,737 a ton.
Copper prices steadied on Thursday, as some investors who wagered on copper prices would fall earlier in the year chose to close out those bets and lock in their profits ahead of the month's end. Traders who sell or short copper futures must repurchase those positions in order to close out those bets.
"Copper has stabilised following yesterday's selloff," said Standard Bank analyst Leon Westgate.
Copper fell 1.4 per cent on the LME Wednesday.
In other news Thursday, United Co Rusal dealt a blow to the LME, winning a court battle over reforms to the exchange's metals-warehousing system.
The UK High Court said the LME's consultation process about changes designed to address delays accessing metals was "unfair and unlawful".
The LME, which is owned by Hong Kong Exchanges and Clearing, had proposed that from April 1 its roughly 700 affiliated warehouses would be required to ship more metal out than they take in if wait times for deliveries exceed 50 days.
Russia's Rusal, the world's largest aluminium producer, had contended that the LME's consultation didn't provide or sufficiently consider alternative options to reducing queues, didn't represent a sufficient inquiry and breached its human rights by interfering with its economic interests.
In a 21-page ruling, High Court Judge Justice Phillips upheld Rusal's first two grounds of complaint, and quashed the LME's decision to implement its rule change.
The ruling criticised the LME for not identifying the option of banning or capping rents paid to warehouse companies for metal sitting in warehouse queues.
