(Bloomberg) — Base metals climbed higher on Monday, led by aluminum, as investors bank on increasing need for industrial materials to support billions of dollars in U.S. infrastructure spending. U.S. lawmakers passed the country’s biggest infrastructure package in decades on Friday, unleashing $550 billion of fresh spending on roads, bridges, public transit and other projects in the coming years.
“The market is projecting a significant amount of new investment in various projects that will require more copper and base metals,” TD Securities analyst Bart Melek said Monday in a phone interview.
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