The three-month copper price continued to lead the gains in the complex, climbing a further $66 per tonne. The metal has risen 2.7% since last Wednesday’s close price following a bout of profit-taking and is being supported by the market turning optimistic as the year concludes.
“Despite signs of slowing Chinese demand, any disruption to supply could rapidly tighten market conditions and draw the metal above $7,000 per tonne,” John Meyer of SP Angel said.
“Unsuccessful negotiations earlier this year at BHP’s Escondida extended striking for the longest consecutive period in mining history, while Antofagasta plc failed to reach an early agreement with...
