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Industrial Metals Rally as China Stimulus Boosts Demand Outlook

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Lead rallied to the highest this year and copper advanced to a three-week high as China stepping up stimulus boosted the demand outlook in the biggest consumer.

Copper climbed as much as 1.9 percent, while lead rose as much as 1.1 percent. The People’s Bank of China lowered the reserve-requirement ratio, or the amount of cash lenders must hold in reserve, by 1 percentage point effective April 20, the central bank said on its website Sunday. The reduction, the second this year and the largest since November 2008, comes after data last week showed the second-largest economy expanded at the weakest pace since 2009 last quarter.