Copper rose, underpinned by higher Chinese imports and a fall in stocks stored in LME warehouses.

China's refined copper imports rose nearly 120 pct to 148,679 tonnes in February – the highest level in two years – compared with the same month a year ago.

At 12.29 pm, LME copper for 3 month delivery was up at 6,760 usd a tonne against 6,609 usd at the close yesterday.

'Copper has a base of fundamental reasoning to its strength with buying continuing in China where imports are increasing rapidly over last year's levels,' said Alex Heath, head of the base metals desk at RBC Capital Markets.

Stocks of the metal fell 1,525 tonnes to 187,775 tonnes today, reported the LME in a daily report.

Strong Chinese imports, which boasts the world's fastest growing economy, combined with the fast-approaching seasonally busier second quarter paint a strong underlying picture for copper, said Standard Bank analyst, Tariq Salaria.

He explained demand in the second quarter is traditionally stronger as Western European countries tend to process higher volumes of metal before they embark on long summer vacations.

In the longer term, Salaria added: 'In the first half of the year, the market will be much closer to balance and the low level of stocks mean that it remains vulnerable to supply disruptions.'

Further, copper and indeed all base metals were supported by stronger equity markets worldwide after yesterday's US Federal Reserve meeting continued to boost sentiment.

The US Federal Reserve softened its tone, turning away slightly from its stance towards tightening monetary policy and in turn fuelling hopes that key US interest rates might be heading lower.

Commodity markets have become linked to equities after a global equity sell-off at the end of February, amid fears that demand might be dented.

However, RBC's Heath argued that 'perhaps more pertinent (in lifting prices) is the gradual realisation by many that the base metals fundamentals remain just too finely balanced'.

He added tight fundamentals suggest the impact of any disruption supplies would be exaggerated.

In other metals, nickel was up at 44,500 usd from 43,855 usd yesterday, but still off of its recent all-time high of 48,500 usd set last Friday.

Prices are widely anticipated to hit the 50,000 usd mark as stocks remain critically low and amid strong demand from the stainless steel industry – which accounts for 70 pct of nickel consumption. Current stocks available to the market are worth less than a day's worth of global consumption.

Aluminium was down at 2,225 usd from 2,750 usd per tonne at yesterday's close. Lead was up at 1,924 usd against 1,917 usd, tin was up at 14,000 usd against 13,875 while zinc was also up at 3,200 usd against 3,120 usd per tonne at yesterday's close.