Copper Rises to $6,564 per Tonne on Supply Concerns

Today, three-month copper on the London Metal Exchange rose 1.4 percent, or $91.90, to trade at $6,564 per tonne, according to The Wall Street Journal. Meanwhile, copper for May delivery on the COMEX in New York increased by 1.8 percent, or $0.053, hitting $2.9985 per pound, as per another article from the publication.

Workers at Anglo American plc’s (LSE:AAL) Los Bronces mine in Chile began a protest early Monday regarding issues including potential layoffs. Traders are concerned this strike could impact global copper supply. “Last year the mine produced 416,300 tonnes of copper, approximately 7 percent of Chile’s annual output,” Vicky Sanders, head of analytics sales at Marex Spectron, told The Wall Street Journal.