Copper ended sharply higher on Wednesday, posting its biggest one-day gain in two weeks as currency-related buying and perceptions of healthier Chinese purchases fed the rally. Copper's strength fed through to the broader base metals complex, with nickel rallying as much as 4.3 percent, lead extending a five-day rally, and aluminium hitting its priciest level since September 2008.
COMEX May copper shot up 10.55 cents to settle at $4.37 per lb, as the momentum pushed the contract up near its trendline resistance. Aluminium rose to $2,685 a tonne, its highest since September 2008, before ending up $29 at $2,670.