Base metals rise as solid economic data lend support


    Prices of industrial metals were largely higher on Tuesday, as robust factory data from the world’s biggest economies boosted confidence about the demand outlook.

    Three-month copper on the London Metal Exchange rose 0.7 percent to $6,809.50 a ton, zinc advanced 0.4 percent to $2,550 a ton and nickel increased 0.6 percent to $15,250 a ton, while aluminum dipped 0.1 percent to $1,864 a ton.

    The most-traded December copper contract on the Shanghai Futures Exchange rose 1.3 percent to 51,690 yuan ($7,727.38) a ton, while aluminum advanced 0.6 percent to 14,745 yuan a ton.

    US manufacturing activity accelerated more than expected in October, with new orders jumping to their highest level in nearly 17 years, while Chinese factory activity expanded the fastest in a decade and euro zone manufacturing also boomed, data showed on Monday.

    However, trading volume was low as investors were cautious ahead of the US Presidential election later on Tuesday. – Reuters