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Copper Prices Rise on Strike Fears and Fed News

Copper Prices Rise on Strike Fears and Fed News

The price of copper has risen to nearly $14,700 per ton amid threats of an imminent strike at its largest mine in the world in Chile, where wage negotiations have failed, potentially leading to further supply disruptions and impacting the global market. At the same time, a Federal Reserve official downplays the need to raise interest rates more than once this year, despite expectations of higher copper prices due to political risks and anticipated inflation, with the metal reaching a record level near $14,900 last month. Markets are awaiting American inflation data that could determine the Fed's next move, while the price of copper on the London Stock Exchange has increased by 0.8% to around $14,695 per ton.

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