Copper Powers On as Bulls Say Rally is One for the History Books
- Gauge of China’s manufacturing rises to highest since 2010
- Copper may hit fresh highs in 2021, says Morgan Stanley
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Copper extended a rally after capping the longest stretch of monthly advances in almost a decade, with prices headed for the highest close in seven years in London as China’s recovery continues and supply risks stack up.
Caixin’s China November manufacturing purchasing managers’ index rose to the highest in a decade, according to data released on Tuesday. That’s the latest indicator highlighting the economic strength in the top metals consumer, after Monday’s official factory gauge beat market expectations and showed the nation’s economic rebound is gathering pace.