Base metals rose in London, New York and Shanghai on Thursday, with copper at new 27-month peaks on COMEX and the LME, and at its highest level in China since January, buoyed by a near 1 percent drop of the dollar against a basket of currencies.
Shanghai copper touched its highest since January at 63,820 yuan, while zinc hit its strongest since April, and lead and zinc prices in London also jumped to multi-month peaks. LME zinc rose to $2,435 and Shanghai futures hit 19,440 yuan, the highest since April for both metals.
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