Sept. 5 (Bloomberg) -- Aluminum advanced for the first time in three days, rebounding from a four-week low, after the U.S. Federal Reserve said a recovery in the world’s largest economy was intact.
Aluminum for delivery in three months increased as much as 0.8 percent to $1,804 a metric ton on the London Metal Exchange and was at $1,796 at 4:15 p.m. in Tokyo. The metal touched $1,785 yesterday, the lowest level since Aug. 7. Copper rose 0.2 percent to $7,138 a ton.
“There’s some good buying interest below $1,800 for aluminum,” said Hwang Il Doo, a senior trader at Korea Exchange Bank Futures Co. in Seoul. Copper has the potential to rally from a 1.7 percent drop yesterday, he said.
Copper futures for delivery in December gained 0.2 percent to $3.2475 a pound on the Comex in New York. Futures for delivery in December on the Shanghai Futures Exchange fell 0.7 percent to close at 51,670 yuan ($8,443) a ton.
On the LME, zinc and tin advanced, while lead declined and nickel was little changed.
--Editor: Brett Miller