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Copper steadies as mine strike threat offsets dollar, oil strength
Copper steadied on Tuesday as the prospect of a mining strike in top producer Chile offset concerns that a strong dollar and elevated oil prices will hurt demand. Benchmark three-month copper on the London Metal Exchange was up 0.2% to $14,447 per metric ton in official open outcry activity. It lost 1.4% on Monday, hitting its lowest since September 17 on weak Chinese industrial profits data. Despite signs of deteriorating economic growth due to the Iran war and oil above $100 a barrel, copper still has some upside risk, said Panmure Liberum analyst Tom Price. “And that’s really because the gl...
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