The price of base metals has risen today due, in part, to better than expected Chinese trade figures that have been posted despite the country’s central bank revealing it will increase its reserve ratio for the third time in the face of inflation.

Copper was the main metal imported by China, who are the world’s largest consumer of the metal which they use for everything from metal press work to sheet metal work. Imports of the metal rose for the first time in three months due to many metal press work firms believing that domestic prices would rise more than overseas prices.

Copper was trading for $9,091 per tonne as copper inventories continue to shrink. Copper stocks are currently at their lowest since October 2009.