Copper Fund Gains 0.4% as Southern Copper Lags | Copper, Oct 6
Copper edged up on 6 October as miners lagged the metal. Chile and Peru, which supply about a third of world mine output, depend on Chinese demand. The post Copper Fund Gains 0.4% as Southern Copper Lags | Copper, Oct 6 appeared first on The Rio Times .
Copper prices edged higher on Tuesday, with the CPER fund gaining 0.43% to US$40.03 and COMEX copper trading near US$6.65 a pound. However, mining shares did not follow the trend, with Southern Copper falling 0.50% and Freeport-McMoRan almost flat. The decline in copper prices came despite the metal being firm, as Chinese demand data remains a major swing factor for copper prices.
Chile and Peru together supply roughly a third of the world's mined copper, with Chile being the world's largest producer. The two countries' mining policy and strikes can significantly impact global copper prices.
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