Base Metals Jump on USD Weakness. JP Morgan Seeks to Launch Copper ETF

Base metals remained strong with copper jumping to a 27-month high in London. Strong import data from China and JP Morgan's plan to launch physically-backed copper ETF contributed to the rally. China imported 383 523 metric tons of copper concentrate in September, up +44.05% and +21.62% on monthly and annual basis respectively. This upstaged declines in imports on unwrought copper and copper products

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Base Metals Jump on USD Weakness. JP Morgan Seeks to Launch Copper ETF