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Industrial metals rise on stronger factory orders

Industrial metals rise on stronger factory orders

Industrial metal prices are rising after the government reported an increase in factory orders that was stronger than analysts had expected.
Prices for copper, platinum and palladium all ended higher Wednesday.
The government says factory orders rose 2.4 percent in July. Some of the increase is credited to stronger demand for motor vehicles and commercial airplanes.
All three metals are used to make a variety of consumer goods including electronics and auto parts. Some analysts think the stronger factory orders may signal a modest improvement in manufacturing.
Most commodities are higher as the Dow Jones industrial average rose for the fourth straight day. Natural gas is rising because utilities are restoring power to the East Coast where Hurricane Irene caused widespread outages.