March 12, 2014 / 4:01 PM / in 3 years

Copper prices rebound from lows, upside limited

1 Min Read

LONDON, March 12 (Reuters) - Copper rebounded from earlier losses on Wednesday, as investors scaled back bearish sentiment about the impact of credit problems in top consumer China, but uncertainty about demand continued to weigh on prices.

Three-month copper on the London Metal Exchange (LME) rose to a session high of $6,544.75 in afternoon trade, up roughly 1 percent from a close of $6,475 on Tuesday. It hit a 44-month low of $6,376.25 earlier in the session.

"The sell-off was overdone, and things have calmed down a bit," said Andrey Kryuchenkov, analyst at VTB Capital.

"Most people are still cautious so we can't expect a quick rebound. On a fundamental point of view we have to wait and see in the second quarter how China stimulates its economy." (Reporting by Harpreet Bhal; Editing by Anthony Barker)

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