Copper notches two-month high on US rate cut

by Pelican Press
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Copper notches two-month high on US rate cut

Copper climbed to its highest level since mid-July as metals rallied on the Federal Reserve’s bid to defend US growth and the labor market with a half-point rate-cut.

After cautious trading earlier on Thursday, metals moved decisively higher to extend Wednesday’s gains. Copper rose 0.8 per cent to $US9,477 ($13,871) a tonne by 2:26 pm Shanghai time, while zinc rallied more than 1 per cent and aluminum also racked up its highest in more than two months.

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