Copper Approaching 1.5% Weekly Rise
Copper prices are set to achieve weekly gains of approximately 1.5%, supported by improved demand in China and the possibility of supply disruptions from a major mine in Chile. Copper futures rose by 1.3% to around $14,480 per ton, as market activity in China resumed and inventories declined, reflecting expectations of increased stockpiles in the coming weeks. The market is also monitoring the potential of a workers' strike at the Centinela mine in Chile, which could impact regional production within two weeks, despite the company's reaffirmation of its official outlook.
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