Global investors are piling into bullish wagers on copper prices, sparking the quickest rally in the industrial metal in years and signaling that many money managers remain hopeful about the economic outlook despite rising coronavirus cases in much of the U.S.

With investors pouring money into assets that have performed well recently, front-month copper futures climbed in 12 consecutive sessions through Monday to $2.94 a pound, their highest level since April 2019. They slipped on Tuesday. The 12-session winning streak was…

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