Benchmark futures were mostly higher on the London Metal Exchange at Thursday's 5pm close following positive economic data released from China and a sustained dovish stance from the US Federal Reserve on interest rates.
The three-month copper contract continued to rally, reaching $9,486.50 per tonne at Thursday's 5pm close, up by 1.5% from $9,342.50 per tonne on Wednesday. Despite recent consolidation for the red metal, prices continue to trade above $9,000 per tonne, reflecting strong market sentiment. "It doesn't make you bearish to suggest the new normal is a range of $8,000-$10,000 [per tonne]," Guy Wolf, global head of market...