(Bloomberg) -- Copper hovered near a two-week low and other industrial commodities ticked higher before a keenly anticipated policy briefing from China.

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Finance Minister Lan Fo’an is due to speak Saturday at an event now seen as key to judging the government’s commitment to more capital spending. Copper’s close on Wednesday was its lowest since Sept. 23, just before Beijing launched a blitz of moves to shore up flagging economic confidence.

Enthusiasm about China’s pro-growth pivot has cooled as investors look for clearer signs that the government will roll out policies — such as infrastructure investment — that will boost commodities demand.

“The PBOC’s effective support of equity markets could ultimately be beneficial to commodity markets,” ANZ Group Holdings analysts including Daniel Hynes said in a note. Stability in the real estate sector and stronger equity markets could see consumer sentiment improve, potentially sparking an economic rebound and stronger demand for commodities, they added.

Copper nudged down to $9,649 a ton on the London Metal Exchange as of 11:11 a.m. local time. Other industrial metals gained, with aluminum up 0.4% and zinc 0.5%.

--With assistance from Winnie Zhu and Mark Burton.

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