METALS-Copper rises on strong economic data, aluminium soars,

TheStar Tue, Jan 19, 2021 06:50am - 3 years View Original


File pic shows aluminium stocks at the warehouse in Port Klang, Malaysia.

ONDON, Jan 18 (Reuters) - Copper prices rose on Monday after a strong economic reading from top consumer China confirmed a growth trajectory that has underpinned demand for industrial metals.

China's economy grew 6.5% year on year in the fourth quarter, beating the 6.1% forecast by economists in a Reuters poll, with its recovery from the coronavirus crisis expected to gather pace this year.

Three-month benchmark copper on the London Metal Exchange (LME) gained 0.4% to $7,978.50 tonnes by 1700 GMT.

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