METALS-Copper gains in thin volume, aluminium jumps on China power cuts

  • 03/15/2021
  • Source: Reuters
  • by: Eric Onstad
METALS-Copper gains in thin volume, aluminium jumps on China power cuts
LONDON, March 15 (Reuters) - Copper prices gained on Monday after stronger-than-expected industrial growth in top metals consumer China, while energy-intensive aluminium surged as a Chinese city clamped down on power consumption.

Volumes were low, with investors cautious ahead of central bank meetings this week.

Benchmark copper on the London Metal Exchange had gained 0.4% to $9,122.50 a tonne by 1700 GMT, off the session high of $9,199.50, the highest since March 3.

“We had some positive Chinese data, which helps to confirm a V-shaped recovery, but volumes are low and there’s no real conviction,” said Geordie Wilkes, head of research at Sucden Financial.
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