The price of LME copper has risen firmly above the USD5,300/MT level - an increase of around 3% to the highest level in over a year. The rally has dragged the price of other base metals higher as well.
Prices of base metals have gained support from the prospect of a period of significant fiscal stimulus in the US, targeting in particular investment in infrastructure.
It adds to the support for base metal prices from higher global manufacturing activity and consolidation in mining and refinery production.
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