China’s comeback turbocharges base metal prices

Industrial metals have ripped higher since November on bets that China’s reopening will boost demand for raw materials.

A group of “base metals” led by tin, zinc and copper have surged more than 20 per cent in three months, further supported by the US Federal Reserve signalling a slowdown in the pace of interest rate rises and a softening in the US dollar, which importers use to buy commodities.