Copper Rallies to Three-Year High as China Plant Halts Output
- Ninth gain puts red metal in longest winning streak since 2004
- China’s Jiangxi Copper follows Tongling in cutting production
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Copper in London surged to the highest in almost four years after China ordered its top producer to halt output to combat winter pollution, fueling a rally this year driven by optimism about demand and supply disruptions at mines.
Jiangxi Copper Co. was told to cut production for at least a week before a new assessment is made on local pollution levels. Earlier in the month, the No. 2 smelter, Tongling Nonferrous Metals Group, was asked to make similar cuts.