As the US dollar edged higher against its rivals, amid focus on the workers strike in Chile. Copper mines in Chile halted production due to workers strike, especially in Escondida mine, due to objections on government contracts.Escondida, which is the world’s largest copper mine, produces about 4.5% of the total global supply, or an around 24 million tonnes, according to this year figures.The dollar index rose against a basket of major currencies by 0.1% to 92.5 points as of 13:33 GMT, after hitting a high of 92.6 points and a low of 92.4 points. Copper September futures fell 0.9% to $4.34 per pound as of 13:30 GMT 17th August 2021
Copper prices rose on Friday 13th August 2021 , as the US dollar fell against its rivals, amid concerns of Chile’s supply.Copper mines in Chile halted production due to workers strike, especially in Escondida mine, due to objections on government contracts.Escondida, which is the world’s largest copper mine, produces about 4.5% of the total global supply, or an around 24 million tonnes, according to this year figures.The dollar index rose against a basket of major currencies by 0.3% to 92.7 points as of 13:50 GMT, after hitting a high of 93.01 points and a low of 92.7 points.Meanwhile, the average daily Covid-19 infection rate has increased in many countries around the world, led by the US, which is now hit by a new wave of infections.
Copper September futures rose 0.8% to $4.39 per pound as of 13:39 GMT.
As the US dollar edged higher against its rivals, amid focus on the workers strike in Chile. Copper mines in Chile halted production due to workers strike, especially in Escondida mine, due to objections on government contracts.Escondida, which is the world’s largest copper mine, produces about 4.5% of the total global supply, or an around 24 million tonnes, according to this year figures.The dollar index rose against a basket of major currencies by 0.1% to 92.5 points as of 13:33 GMT, after hitting a high of 92.6 points and a low of 92.4 points. Copper September futures fell 0.9% to $4.34 per pound as of 13:30 GMT.
Copper prices rose on Friday, as the US dollar fell against its rivals, amid concerns of Chile’s supply.Copper mines in Chile halted production due to workers strike, especially in Escondida mine, due to objections on government contracts.Escondida, which is the world’s largest copper mine, produces about 4.5% of the total global supply, or an around 24 million tonnes, according to this year figures.The dollar index rose against a basket of major currencies by 0.3% to 92.7 points as of 13:50 GMT, after hitting a high of 93.01 points and a low of 92.7 points.Meanwhile, the average daily Covid-19 infection rate has increased in many countries around the world, led by the US, which is now hit by a new wave of infections.
Copper September futures rose 0.8% to $4.39 per pound as of 13:39 GMT.
