Copper Advances to Record Price as Chinese Car Sales Speed Up
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Copper rose to a record in London as car sales sped up in China, the world’s biggest consumer, and the introduction of an exchange-traded fund backed by the metal drew closer.
Passenger-car sales to dealerships rose 29.3 percent from a year earlier in November, the China Association of Automobile Manufacturers said today. ETF Securities Ltd. said Dec. 7 funds backed by copper, nickel and tin will start trading in London tomorrow. Prices also climbed as copper inventories tracked by the London Metal Exchange shrank further.