Aluminum rose ahead of China's leadership change

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Source: Dukascopy Bank SA
© Scanpix/AFP
Base metals rebounded on Tuesday ahead of the US presidential election's results and Chinese Communist Party Congress due later in the week. Investors weighted possibility of more aggressive measures in China after a leadership change. Moreover, hopes that the US will continue to stick to loosening monetary policy spurred rally in the industrial metals' pack.

Aluminum climbed on speculation about additional easing measures in the US and China. However, the upswing remained limited due to buildup in global inventories.

Copper surged the most in three weeks on brighter demand prospects in China, as new leader is likely to take steps to stimulate economy.

Nickel surged on better spot demand and strength in other commodities. The metal's price correction may be expected after key China's data due later in the week.

Zinc was the top-gainer amid hopes for more accommodative monetary policy in China.
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