Copper futures soared by 1 per cent during late morning trade in the domestic market on Tuesday as a pickup in new lending in China, the world’s biggest metals consumer, eased worries over the country’s economic slowdown, lifting the demand outlook for Copper. New loans issued by China’s banks and financial institutions jumped to 2.51 trillion Yuan in Jan 2016, comfortably topping estimates of 1.9 trillion Yuan, and above the 597.8 billion Yuan in the previous month. Further, the People’s Bank of China governor Zhou Xiaochuan allayed worries over China’s economy, as he said that the country’s balance of payments is good and capital outflows are normal, with the exchange rate basically stable against a basket of other currencies. At the MCX, Copper futures for February 2016 contract were trading at Rs.313.35 per 1 kg, up by 1 per cent, after opening at Rs. 312.5, against the previous closing price of Rs. 310.25. It touched the intra-day high of Rs. 315. (At 11:47 AM).