Melbourne
London copper held steady near its highest in more than a week on Wednesday, buoyed by brighter data from the United STates, and expectations of seasonally improving second-quarter demand.
U.S. consumer confidence surged to a more than 16-year high in March amid growing labor market optimism while the goods trade deficit narrowed sharply in February, indicating the economy was regaining momentum after faltering at the start of the year.
"Base metals rebounded strongly as investor sentiment picked up after the strong consumer confidence number in the U.S. saw Trump worries fade," said ANZ in a report. "Sentiment was also boosted by secondary economic data in China that showed March activity was strong.
The China Satellite Manufacturing Index rose to 51.8, its strongest level in five years, while a measure of sales manager activity also rose strongly."
