Copper prices rose in early Monday trading as supply disruptions resurfaced and demand from China remained strong.
On the London Metal Exchange, copper advanced 0.6%, reaching $9,996.50 per metric ton in morning deals.
Analysts at ANZ warned that tighter market conditions could emerge if the halt at Chile’s El Teniente mine lasts longer than expected. The state-owned miner Codelco reported Friday that the facility will need additional time to resume full production after a tunnel collapse in July.
Meanwhile, Chinese demand continues to show resilience, with refined copper imports projected to rise, ANZ noted.
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