Base metals gain on US factory orders data

Base metals prices were higher on Thursday, following gold and oil prices that traded at or near record highs during the day.

The metals, used in industrial applications, were helped by data showing that US factory orders were up more than expected in November.

March copper added 12 cents to $3.19 per pound in New York while three-month copper on the London Metal Exchange was up $215 to $6,970 per tonne.

Lead was $35 higher to $2,650 per tonne while aluminium gained $67 to $2,505 per tonne, zinc was up $124 to $2,575 per tonne, and tin jumped $400 to $16,750 per tonne.

Nickel closed at $28,950 per tonne in London.