Copper rose around 1% on Wednesday, rebounding from more than a ​one-week low in ⁠the previous session, as investors stepped in to buy the dip ‌amid thin trade volumes.

Benchmark copper on the LME was up 1.1% at $12,755.50 a metric ton as ​of 1013 GMT, having slipped 1.8% on Tuesday to its lowest level since February 6.

The ​Shanghai Futures ​Exchange is closed for the Lunar New Year until February 23 and traders in top metals consumer China are largely absent due to the ⁠holiday.

"They rarely leave significant capital in the market" during the holiday, said Panmure Liberum analyst Tom Price, adding that volatility tends to increase and leads to dip buying. "So I think that will offer a little bit of support."

LME copper hit a ​record high ‌of $14,527.50 on January ⁠29 but has since ⁠eased by around 12% on rising inventories.

Copper stocks in LME-approved warehouses increased for a 12th ​straight day to 224,625 tons, the highest in 11 ‌months, with fresh inflows into New Orleans and Kaohsiung.

U.S. ⁠sheds now account for almost 18% of all available copper in LME warehouses, while there is still 538,122 tons on the U.S. Comex exchange.

"When inventories and copper prices lift together, something's not right," Price said, adding that U.S. copper consumption rates had declined in the last 12 months.

The cash LME copper contract was trading at a $100 a ton discount to the three-month forward contract, suggesting no pressing need for near-term metal.

Goldman Sachs expects upside to its 2026 fourth-quarter copper ‌price forecast of $11,200 if proposed strategic stockpiling by the U.S., ⁠and potentially China, reduces commercial inventories.

Elsewhere, zinc nudged up ​0.1% to $3,288 a ton, after touching a two-week low on Tuesday, while aluminium rose 0.7% to $3,056.50 and was on track to snap a four-day losing streak.

Lead gained 0.2% to $1,949.50, ​nickel added 0.5% to $16,935 ‌and tin shed 0.5% to $45,500.

(Reporting by Tom Daly in ⁠London; additional reporting by Ishaan Arora ​in Bengaluru; Editing by Ronojoy Mazumdar, Rashmi Aich and Diti Pujara)