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Copper Reaches Three-Week High on Outlook for Further Stimulus

Copper climbed to a three-week high in New York on speculation that central banks in China and the U.S., the world’s biggest metals consumers, will maintain policies aimed at stoking economic growth.

Federal Reserve Chairman Ben S. Bernanke yesterday called for continuing stimulus “for the foreseeable future.” Chinese Premier Li Keqiang said policy should ensure economic activity moves within a reasonable range, according to a Xinhua News Agency report posted on the government’s website. The remarks signal that the nation may soften its monetary stance, according to Nomura Holdings Inc. China’s benchmark equity index posted its biggest two-day gain in 18 months.