SINGAPORE, March 10 (Reuters) - Copper prices rose on Tuesday, after hitting a three-year low in the previous session, on signs of improving demand in top consumer China as factories slowly come back online following a drop in coronavirus cases in the mainland.
Three-month copper on the London Metal Exchange (LME) rose 0.8% to $5,580 a tonne by 0257 GMT, after falling on Monday as global markets plunged on an oil price crash and as the coronavirus spread rapidly outside China.
The most-traded copper contract on the Shanghai Futures Exchange (ShFE) rose 1.1% to 44,040 yuan ($6,341.89) a tonne, rebounding from a 40-month low hit in the previous session.
"In China, the semis fabricator industry is improving slowly as the outbreak is controlled," said analyst He Tianyu at CRU Group. Copper semi fabricators process the metal into products such as wire-rod or tubes for use in downstream sectors.
The utilisation rate of the industry, one of the biggest consumers of copper, has picked up to 60% from 40%-50% a week ago, as more people return to work, the analyst said.
* CHINA: Business and travel activities are steadily recovering, but rapidly rising infections globally will pose a challenge to the country's broader economic resumption.
* CHILE COPPER: Copper output at Codelco, the world's top copper miner, plunged 6.8% in January from a year earlier. Production at BHP's Escondida, the world's largest copper mine, rose 10%.
* OTHER PRICES: LME aluminium fell 0.5% to $1,678.50 a tonne, nickel rose 0.7% to $12,735 a tonne, zinc advanced 0.6% to $1,990.50 a tonne, while lead climbed 1.2% to $1,820 a tonne.
* SHFE PRICES: ShFE nickel rose 1.9% to 101,580 yuan a tonne, zinc jumped 2.6% to 15,810 yuan a tonne, lead rose 0.4% to 14,500 yuan a tonne and tin increased 1.1% to 135,040 yuan a tonne.
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* Asian shares bounced and bond yields rose from historic lows as speculation of coordinated stimulus from global central banks and governments calmed panic selling.
1000 EU GDP Revised QQ, YY Q4
Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
ARBS ($1 = 6.9443 Chinese yuan renminbi) (Reporting by Mai Nguyen; Editing by Devika Syamnath)