Copper prices edged higher in early Monday trading as concerns over supply disruptions re-emerged, coupled with steady demand from China.
During morning trading on the London Metal Exchange, copper rose 0.6% to $9,996.50 per metric ton.
ANZ analysts highlighted that the market could tighten further if Chile’s El Teniente mine remains offline longer than expected. Following a tunnel collapse in July, Codelco indicated on Friday that returning the mine to full capacity will take more time than initially projected.
At the same time, Chinese demand for refined copper appears robust, with imports expected to climb, reinforcing bullish sentiment in the market, according to ANZ.
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