Vale SA, the world's largest iron- ore producer, said second-quarter profit rose more than fourfold because of surging prices for the steelmaking raw material.
Copper prices jumped the most in three weeks after a gain in US building permits boosted demand prospects for the metal used in electrical wiring and plumbing.
Base metals were expected to trade higher Wednesday with positive bias from strong Asian equities, the flattish dollar index and expectations of positive economic data from the eurozone.
Intel Corp., adding to evidence that the global economic recovery is taking hold, boosted its profit forecast for the year to a record after corporations resumed spending on computers.
Crude oil traded near a two-week high in New York on optimism fuel demand will increase amid improved prospects for an economic recovery in the world's biggest energy consumer.
