Best Run in 11 Years Beckons for Metals as China Drives Rally
- Nation’s supply-side reforms, pollution curbs aiding prices
- Copper surges to highest since November 2014; zinc rises
Barclays Analyst Says He Is Still Cautious on Copper
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Industrial metals including copper and aluminum are heading for the longest run of weekly gains in London in more than a decade on investor optimism driven by China, with demand holding up in the largest user just as policy makers press on with reforms that should curb supply.
The LME Index climbed 2.4 percent in the four days since Monday, and if the advance sticks, the gauge will cap a seventh weekly increase. That would be the longest rally since a nine-week run in 2006, before the global financial crisis from which industrial commodities have since struggled to fully recover. The index, as well as copper, are both at the highest level since 2014.