MELBOURNE: London copper rose to a fresh three-year high 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.
"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.
London Metal Exchange copper struck $6,642.50 a tonne, the highest since Nov 2014, before trading at $6,622 a tonne by 0712 GMT, a gain of 0.6 percent. It gained 1.5 percent in the previous session.
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