Traders assessed the situation in China, and copper remained steady

Copper futures remained flat around £1 = 4.57 dollars on Thursday, and an increase in inventory weighed on sentiment amid prolonged demand unease in China, which is the top consumer country.

While China's latest economic data points out that demand continues to be sluggish, investors are expecting further signs of economic support from an important political meeting to be held next week.

Meanwhile, copper stocks rose 4,450 tons to 195,475 tons on Wednesday, according to London Metal Exchange data, the highest level since October 2021.

Inventories also increased at warehouses in South Korea and Taiwan, which are the main export destinations for Chinese copper.

Other than that, investors are refraining from important US inflation indicators that may strengthen expectations of interest rate cuts from the US Federal Reserve (Fed).

Interest rate cuts in the US are likely to boost economic growth and aggregate demand, making this a bullish scenario for commodities.