Economics
Copper Posts 17-Month High on Demand Bet as Citi Sees Strength
- Zinc, nickel also advance in London Metal Exchange trading
- U.S, Chinese data adds to positive mood for industrial metals
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Industrial metals climbed, with copper closing at the highest price in almost 18 months, on speculation that demand will accelerate amid improving growth in the U.S. and signs of a stabilizing economy in China.
A private report Monday showed U.S. non-manufacturing industries expanded at the fastest pace in 13 months, while data from Caixin Media and Markit Economics indicated a pickup in China’s service industries in November. Citigroup Inc. said prices will gain as demand improves and supply falters.