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Trump’s $500 Billion Infrastructure Promise Drives Metals Rally

  • Copper prices surge as much as 4%; Caterpillar jumps 7.7%
  • Trump said he’d at least double Clinton’s building plans
Updated on

For industrial metals and their producers, the uncertainties generated by Donald Trump’s shock electoral victory come with a more than $500 billion silver lining.

That’s the amount Trump has signaled he’ll spend to rebuild U.S. infrastructure and the reason copper rose to a 15-month high on Wednesday. Metal producers such as Freeport-McMoRan Inc. and U.S. Steel Corp. soared while construction and mining equipment maker Caterpillar Inc. climbed as much as 10 percent, the steepest intraday gain in seven years.