Copper, aluminium and lead yesterday hit their highest levels in more than a year, boosted by a combination of strong investor flows, a weaker US dollar and signs of strong economic growth in China and elsewhere in Asia.
JBC Energy, the Vienna-based consultancy, said that the speed at which commodities markets had recovered “from news about Dubai World's delayed debt has been remarkable”.
On the London Metal Exchange, copper for delivery in three months rose to a 14-month high of $7,170 a tonne. It later pared gains, but still gained 1.2 per cent to $7,145 a tonne.
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