Shanghai copper, nickel up

Shanghai Futures Exchange copper rallied 1.9 percent to 52,190 yuan ($7,841) having struck its strongest since March 2013 at 52,210 yuan on Tuesday after a string of results from mining companies buoyed sentiment towards the sector, which also found wider support from robust gains in steel material prices in China. ShFE nickel finished up 2.9 percent, while zinc and lead trimmed early losses to end flat and 1.4 percent higher, respectively.
"The wider sector continues to benefit from an increasingly positive sentiment as economic growth betters expectations amid a (broadly) weaker USD," said ANZ in a report. The dollar inched higher against a basket of currencies on Tuesday, with traders focusing on the annual central banking conference in Jackson Hole this week for insights into the outlook for monetary policy.