Shanghai Futures Exchange copper was up 2.6 percent at 47,530 yuan ($6,897) a tonne on Wednesday and ShFE zinc rallied 3.5 percent buoyed by brighter data from the United States and expectations of seasonally improving second-quarter demand.
US consumer confidence surged to a more than 16-year high in March amid growing labour market optimism while the goods trade deficit narrowed sharply in February, indicating the economy was regaining momentum after faltering at the start of the year. "Base metals rebounded strongly as investor sentiment picked up after the strong consumer confidence number in the US saw Trump worries fade," ANZ said in a report.
"Sentiment was also boosted by secondary economic data in China that showed March activity was strong. The China Satellite Manufacturing Index rose to 51.8, its strongest level in five years, while a measure of sales manager activity also rose strongly."
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