LME copper ended at $6,870/mt on Monday, compared with a session high at $6,900/mt.

"There are still macro-economic concerns but they seem to have taken a back seat. There are signs of improving demand outside China...that's leading to buying interest," said Gayle Berry, analyst at Barclays Capital.

"This finance ministers meeting could prove disappointing again, so I wouldn't hold my breath," said Robin Bhar, an analyst at Credit Agricole Corporate & Investment Bank.

"But it looks as if metals have de-coupled (as) they're not following the euro down. Copper does look to be well placed ... demand is expected to strengthen with a lot of mining companies last week in earnings statements, referring to a supply crunch."

"Cancelled warrants have been rising, inventory builds have been slowing, physical premiums are picking up, demand for metals is growing on a global basis," said Barclays Capital's Berry.

"Right now the aluminium cancelled warrants are at the highest level ever," Eugen Weinberg, an analyst at Commerzbank said.

"Most of the movements are taking place in the U.S. ... most of it is in Chicago and Detroit," he added. "It is difficult to say if this is real or not, but definitely some of this is real demand."

Closing prices for Monday:

Copper    $6,870   +$60

Aluminium $2,054    -$1

Zinc      $2,200   +$30

Lead      $2,180   +$47

Tin      $16,495  +$295

Nickel   $19,350  +$800