LONDON, March 15 (Reuters) - Copper prices gained on Monday after stronger-than-expected industrial growth in top metals consumer China, while energy-intensive aluminium surged as a Chinese city clamped down on power consumption.
Volumes were low, with investors cautious ahead of central bank meetings this week.
Benchmark copper on the London Metal Exchange had gained 0.4% to $9,122.50 a tonne by 1700 GMT, off the session high of $9,199.50, the highest since March 3.
“We had some positive Chinese data, which helps to confirm a V-shaped recovery, but volumes are low and there’s no real conviction,” said Geordie Wilkes, head of research at Sucden Financial.
METALS-Copper gains in thin volume, aluminium jumps on China power cuts
Copper Alloy Bowl, NW Palace, Nimrud by Gary Todd is licensed under CC0 1.0
Copper Alloy Bowl, NW Palace, Nimrud by Gary Todd is licensed under CC0 1.0