NEW YORK — Palladium and platinum surged Wednesday to their highest levels in about two years on a report of rising Chinese imports. Increasing optimism about a stronger economic recovery, including higher demand in the U.S. automotive sector, also fed the buying. Analysts said a Barclays Capital report of growing demand for the industrial metals in China sent palladium and platinum prices sharply higher. The two metals, which are used in a variety of industrial products including catalytic converters in cars and trucks, led a broad rally in commodities. Palladium is also used in electronics and fuel cells, while platinum is used in jewelry. Palladium for June delivery rose $16.85 to$568.25 an ounce, its highest close since March 2008. Platinum for July delivery increased $18.50 to $1,740.30 an ounce for its highest close since August 2008. May silver gained 25.7 cents to $18.08 an ounce while May copper added 2.2 cents at $3.5350 a pound. Gold for June delivery gained $9.60 to $1,148.80 an ounce. Benchmark crude for June delivery gave up 17 cents to $83.68 a barrel. May heating oil rose 2.56 cents to $2.2058 a gallon and gasoline rose 0.18 cent to $2.2827 a gallon. Natural gas lost 2 cents to settle at $3.955 per 1,000 cubic feet. In July contracts, soybeans rose 1.2 cents to $10.06 a bushel; wheat added 1.25 cents to $4.9975 a bushel and corn rose 3.75 cents to $3.69 a bushel.

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