Manila : LME copper jumped more than one percent to $2,572 a tonne in early Asian deals, its loftiest since August 2011, extending this month´s rally spurred by worries over tighter supply following U.S. sanctions on major Russian producer Rusal that began on April 6.
Nickel futures in Shanghai surged to the highest in almost three years on Thursday, tracking a rally in London prices the session before in what analysts said were misplaced concerns that the metal would also be hit by U.S. sanctions.
LME nickel surged to a three-year high on Wednesday as the London Metal
Exchange´s previously announced move to delist two brands from Russia´s Norilsk Nickel, or Nornickel, for delivery against its futures contracts took effect from April 18. Nornickel is the world´s second-largest nickel producer.
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