Copper Climbs to Record as China Policy, US Imports Spur Rally

Copper rose to an all-time high after China set domestic growth as its top economic priority for next year, and amid stockpiling of the metal in the US.

The industrial metal climbed to $11,771 a ton, blazing past a record set in the previous session, before paring gains. The latest spike came after Beijing said on Monday it would stick with a “proactive” fiscal approach and maintain a “moderately loose” monetary stance for the world’s second-largest economy.

“The Politburo readouts present a more proactive macro environment than investors have expected,” said Xu Wanqiu, an analyst with Chinese brokerage Cofco Futures ...