“LME participants put faith in supportive fundamentals of base metals. This boosted metal prices, with nickel, zinc and copper the top performers,” according to ANZ Research.
“We see much stronger demand for cathode globally, mainly driven by China at the moment,” Aurubis chief executive, Jürgen Schachler told Fastmarkets in an interview at LME week. “The general market will continue to grow by 2% plus, so we are very optimistic and very bullish on the future market.” Schachler added.
Copper also got support from the weaker US dollar, which had slipped by 0.09% as at 9.56am Shanghai time.
In addition, “the...