Copper increased in price after the regular session in London. It is already for 1.4% higher than the previous trading. Within a few days, the metal increased in value by almost 2%. The cost of copper has increased due to fears of a delay in its supply. This is due to the conflict situation between the metal workers in Chile and Peru.
The latest figures indicate that the Zaldivar miners in Chile do not want to support a new labor contract, which the company insists on. Now the company and the trade union have several days to resolve all the issues. If their negotiations do not bring the desired result, then the strike will continue. The market of this metal is also influenced by China’s stable macroeconomic data.
In Peru, miners have been on strike for several days already. Meantime, the situation remains unstable.
All metals, along with copper have increased their value. The cost of aluminum has increased by 0.8% per ton. Zinc and nickel went up by 1.5%. Tin has increased in price by 0.5%. Lead has also raised its price.