Iron ore, oil and copper prices hit highs on the back of strong demand from China, which reported on Monday a surge in commodities imports last month.
The three raw materials are key for industrial production. Analysts said the Chinese buying signalled that the country’s economic growth remained strong.
Imports of iron ore rose to a record high of 69m tonnes last month, up 19 per cent from December and 48 per cent a year ago, as steelmakers stocked up ahead of the Chinese New Year.
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