Copper prices rise on London Metal Exchange amid Chilean output slump
Benchmark three-month copper on the London Metal Exchange reached $14,289 a metric ton, marking a 0.32% increase by 0300 GMT today. Conversely, copper output in Chile recorded a 12.8% year-on-year fall for August.
Supervisors at Chile’s Escondida copper mine rejected a collective contract offer. Daniel Hynes, senior commodity strategist at ANZ, stated that this rejection 'adds to an overall slump in output, as the industry struggles to maintain aging infrastructure amid difficult operating conditions.'
Other metals saw varied movements across the board. Aluminium dipped by 0.18%, while Zinc added 0.15% and Lead rose by 0.03%.
Nickel experienced a slight dip of 0.19%. Separately, the US dollar reached a 17-month high.
The Shanghai Futures Exchange (SHFE) is scheduled to reopen on October 8.






















































