Commodities

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Copper prices continued higher Monday to its highest close since November 2014. Industrial metals have been on a tear with Zinc hitting a 10 year high last week. The Chinese demand and supply equation continues to buoy base metals.

Over the past few weeks we have seen aggressive buying and new highs in the metals, in particular base metals Zinc, Lead and Nickel. The bringing forward of China's Xiongan New Area.

Base industrial metals drew a breath after the manic buying that saw zinc to the highest level in almost 10 years, we also saw lead and nickle joining in. Iron ore and rebar led the surge a few weeks ago buoying the Australian dollarĀ and stocks.

Australian mining giant BHP Billiton $BHP announced it's iron ore production report and forward guidance Wednesday. $BHP produced 231 million tonnes in the year to June 30.

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