A key index of base metals rallied to a record high as energy shortages cause manufacturers to curtail output when demand for raw materials grows due to economic recovery around the world. A gauge of six industrial metals on the London Metal Exchange surged amid tight physical market conditions and rising costs for electricity and natural gas stemming from energy shortages in Europe and Asia. The LMEX index rose to 2.6% on Thursday to 4,623.4, taking this year’s gain to 35%. (full story)