LONDON—Copper rallied to a 16-month high Wednesday on Chinese buying and steady investor demand.
Other metals powered higher as well, with lead up over 3% and zinc up 2.6%.
The strong performance came despite a flat dollar, losses in European equity markets and even some bearish supply news, as a two-day strike at a Chile copper mine ended late Tuesday.
Three-month copper was recently trading at $7,618 a metric ton, up $133, or 1.8%, on the day.
