Base metal exchange traded funds (ETFs) have rallied more than 55% off the market’s March 9 low thanks to a combination of factors, including more demand from China and a weakening dollar.

Among the factors leading to strength in commodities in general, and base metals in particular, include:

• Global stock markets are feeling more positive, thanks to eurozone economic sentiment and China’s promise to maintain a growth-friendly economic policy, reports Barani Krishnan and Rebekah Curtis for Reuters.

• Manufacturing in China is picking up the pace, while it’s stabilizing in the United States, writes Angel Commodities for Commodity Online.

• One analyst noted that China alone helped copper gain 15% last month, and 80% overall this year, says Nidhi Sharma for the Economic Times.

• A weakening dollar is adding an extra lift to the demand for major base metals, such as aluminum, copper, nickel, zinc and lead, Sharma notes.

• PowerShares DB Base Metals (DBB): up 57.5% year-to-date

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Tags: Base Metals, Commodity ETFs, DBB, Metals & Mining