LONDON: Copper prices hit 28-month highs on Tuesday as expectations of robust demand from top consumer China were reinforced by a lower dollar, as markets awaited the outcome of fiscal stimulus talks in the United States. Benchmark copper on the London Metal Exchange was up 1.7% to $6,898 a tonne at 1603 GMT.
Prices of the metal, used widely in the power and construction industries, earlier touched a 28-month high of $6,937.5 a tonne, a gain of nearly 60% since March. "The dollar turning lower helped copper push higher," a metals trader said.
Worries about wider supply disruptions in top producer Chile helped support copper. Aluminium slipped 0.9% to $1,836, zinc gained 1.7% to $2,534, lead added 0.8% to $1,773, tin rose 0.2% to $18,670 and nickel climbed 2.1% to $16,020 a tonne.
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