Shanghai aluminium, copper surge

Shanghai aluminium and copper roared to the highest in around five years on Wednesday as investors flooded into metals on expectations of capacity cuts in coal and aluminium in China. Shanghai copper ended up 1.1 percent at 51,250 yuan a tonne, having earlier pushed to its highest in more than four years.
Shanghai aluminium struck the highest in five years at 16,330 yuan ($2,436) a tonne before trimming gains to 16,215, up 5 pct. Open interest has surged by one third since the start of August and is nearing the December 2015 record.