US MIDDAY: copper rallies

Copper rallied to a record high on Monday, after a surprise jump in Chinese imports reinforced prospects for robust global demand and raised hopes of extended restocking by the world's top consumer. Copper, often viewed as a barometer for the global economy due to its use in construction and power, posted its biggest daily gain in about two weeks, as the data suggested China's growth remained intact despite recent tightening measures.
COMEX copper for March delivery added 9.25 cents, or 2 percent, to settle at $4.6285 per lb. The session range ran from $4.5435 to $4.6345, with the high coming within a hair of last week's record at $4.6375.