Copper falls on stronger dollar, Chile supply worries cap downside
LONDON: Copper prices edged down on Thursday as a firmer dollar and risk reduction ahead of a long Chinese holiday weekend weighed on sentiment, although worries over supply disruptions at major Chilean mines limited losses. Benchmark three-month copper on the London Metal Exchange dipped 0.2% to $14,595 a metric ton by 1405 GMT. Copper, used in power and construction, is up 9% so far this…
Copper prices fell slightly on Thursday due to a stronger dollar and reduced risk concerns ahead of a significant Chinese holiday weekend, despite worries over potential supply disruptions from major Chilean mines. The benchmark three-month copper price on the London Metal Exchange declined by 0.2% to $14,595 per metric ton. With copper prices up 9% this quarter, they reached a record high of $14,875 per ton two weeks ago.
The London Metal Exchange's zinc rose 0.5% to $3,919 per ton as Nyrstar launched a strategic review of its loss-making operations. Tin and lead also experienced minor declines, while aluminium and nickel showed slight decreases.
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