LONDON, Dec 29 (Reuters) - Copper prices climbed to their highest in a month on Wednesday, boosted by year-end trading, friendly sentiment for risky assets and arbitrage buying.
Three-month copper on the London Metal Exchange (LME), which was closed on Monday and Tuesday for public holidays, gained 1.2% to $9,683 a tonne by 1710 GMT. It earlier hit $9,706, its highest since Nov. 26
"The trade is standing away, but some of the long-term players are still in this. I think they're pushing things up for year-end valuations and you're going to see no real resistance," said Malcolm Freeman at Kingdom Futures. European stocks were close to five-week highs and oil prices also rose. An arbitrage opportunity between COMEX and LME copper also supported the metal, one Singapore-based trader said.