Sydney
London copper climbed to a six-day high on Monday, buoyed by a weaker dollar and as U.S. President Donald Trump reiterated plans to spend big on infrastructure.
In his inauguration speech on Friday, Trump promised to generate new investments to rebuild highways, bridges, airports and other infrastructure. However, he did not go into specifics and there was no mention of plans to outlay $1 trillion in spending over a 10-year period that accompanied his November victory speech.
"We are going to need some evidence that this wasn´t just rhetoric to get elected if this is to be long-term factor in the market," said a commodities trader in Sydney. He declined to be identified as he was not authorised to speak with media. Three-month copper on the London Metal Exchange had risen 1.6 percent to $5,840 a tonne by 0235 GMT, extending gains from the previous session.
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