Copper Nears New Record as China Buyers Return to Tight Market

Copper surged more than 3% in London as Chinese traders returned from the long holiday break in a bullish mood, reacting to fresh signs of supply disruptions.

Futures on the London Metal Exchange jumped to a high of $11,000 a ton, nearing an all-time high above $11,100 struck last year, supported by strong buying on the Shanghai Futures Exchange and a buoyant start to trading as North American markets opened.