Copper Prices Rise on Supply Disruptions

Copper prices rose Wednesday on supply disruptions in Chile and Peru, the Wall Street Journal reported.
As quoted in the publication:

The most actively traded contract, for December delivery, was recently up 9.70 cents, or 4.3%, at $2.3485 a pound on the Comex division of the New York Mercantile Exchange.
In Chile, output at the world’s biggest copper mine, Collahuasi, was slashed by 30,000 tons a year due to low prices. The mine accounted for 6% of global production in 2014.
Meanwhile, Peru declared a state of emergency in the area around MMG Ltd.’s Las Bambas mine after clashes between police and protesters left three people dead. Peru is the world’s third-largest copper producer, after Chile and China, but has struggled to resolve opposition from rural communities to mining in recent years.

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