Shanghai metals rise as Trump signs stimulus bill
- The London Metal Exchange is closed for a public holiday.
HANOI: Prices of most industrial metals rose on Monday, after US President Donald Trump signed a stimulus package that would support the world's biggest economy and boost demand for metals.
Trump on Sunday signed into law a $2.3 trillion pandemic aid and spending package, officials said, backing down from his threat to block the bill earlier this month.
The most-traded February copper contract on the Shanghai Futures Exchange rose 1.2% to 58,930 yuan ($9,024.64) a tonne, while nickel advanced 0.9% to 127,670 yuan a tonne, zinc edged up 0.4% to 21,710 yuan a tonne and lead jumped 1.4% to 14,840 yuan a tonne.
The London Metal Exchange is closed for a public holiday.
Also helping metals were profits at China's industrial firms that grew in November for a seventh straight month, supported by strong industrial production and sales, as factories continue their recovery from the COVID-19 slump.
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