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Weekly Copper Review: Supply Concerns Push Copper Upwards

10 Sep 2022 , 12:35 PM

COMEX Copper stayed supported despite broad economic worries as LME Copper inventories dropped further to register fresh five month lows near 100000 tonnes. Fall in inventories coupled with positive equities is lending support to the red metal, taking COMEX Copper above $3.50 per pound. The red metal also eyed supply concerns stemming from a strike in Chiles Escondida mine. The unionized workers at Chiles Escondida, the worlds largest copper mine, voted to go on strike over safety concerns. The mine is one of the largest sources of copper in the world. Powered by Commodity Insights

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