Copper hits over 8-year high

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    Shanghai copper climbed to its highest in more than eight years on Tuesday and London prices hovered close to over seven-year high on solid Chinese data and coronavirus vaccine hopes.

    The most-traded January copper contract on the Shanghai Futures Exchange rose as much as 1.9 percent to 57,980 yuan ($8,809.68) a ton, highest since September 2012.

    Three-month copper on the London Metal Exchange advanced 0.8 percent to $7,637 a ton, nearing its highest since March 2013 touched in the previous session at $7,708.50 a ton.

    China’s monthly factory activity accelerated at the fastest pace in a decade in November, a business survey showed, as the world’s secondlargest economy and top consumer of copper recovers to pre-pandemic levels.