Industrial Metals Climb With Oil as Copper Touches 2-Month High
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Industrial metals advanced along with crude oil and gold, while copper climbed to a two-month high as torrential rain in Chile closed mines in the world’s biggest producer of the metal.
Copper and nickel both increased as much as 2.3 percent while aluminum advanced as much as 1.8 percent. Oil headed for its biggest five-day gain since 2011 as Saudi Arabia bombed rebel targets in Yemen, renewing concern conflict will spread in the Middle East, while gold rose above $1,200 an ounce. Codelco, the world’s biggest copper producer, shut all of its Atacama mines including Chuquicamata and Radomiro Tomic as rains in the Atacama Desert of northern Chile closed roads and flooded towns.