Base metals rise as solid economic data lend support

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    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