Business · Energy & Commodities · 1 hr ago
Copper rises as Chile supply concerns meet stronger demand signals
Copper prices rose on Monday as traders weighed supply risks in Chile against signs of stronger demand in China.
Chilean state miner Codelco partially suspended operations at its El Teniente mine after a landslide killed two workers and one worker survived.
A strike is also continuing at Antofagasta’s Centinela mine, where talks are due to resume on Tuesday with labor authorities mediating.
Unions have said the strike’s full impact is expected in November, when production could fall by half.
Pay talks are also under way at Escondida, the world’s largest copper mine, adding to concerns about possible supply disruption.
In China, the Yangshan copper premium, a measure of demand for imported copper, reached its highest level in four years, while exchange-tracked stocks rose 51.6% from the end of September to 58,744 tonnes.
The Centinela talks and the ongoing negotiations at Escondida could affect future supply, while the article gives no further outcome or timeline.
Copper prices rose on Monday as concerns about supply disruptions in Chile met stronger signs of demand.
The three-month London Metal Exchange copper price was up 0.4% at $14,598 a tonne at 02:20 GMT.
The most-traded Shanghai Futures Exchange copper contract gained 1.2% to 110,910 yuan a tonne.
Chile’s state-owned Codelco partially suspended operations at its El Teniente mine after a ground collapse killed two workers.
The Yangshan copper premium rose to $135 a tonne last week, its highest level in four years, while Shanghai-monitored copper stocks also increased.
- Who
- Copper traders and mining companies, including Chile’s Codelco and Antofagasta.
- What
- Copper prices rose amid concerns about Chilean supply disruptions and signs of stronger demand.
- When
- Monday; the article was published on 12 October 2026.
- Where
- Copper markets in London and Shanghai; supply concerns centre on mines in Chile.
- Why
- Production disruptions and labor disputes in Chile raised supply concerns, while higher Yangshan premiums signaled stronger Chinese import demand.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
Unions said the full impact of the Centinela strike would be felt in November, when production was expected to be halved.
Codelco partially suspended operations at El Teniente after a ground collapse killed two workers and left a third worker alive.
Copper prices rose in London and Shanghai amid supply concerns and more optimistic demand signals.
Talks over the Centinela strike were due to resume under voluntary mediation proposed by regional labor authorities.
- London copper
- $14,598 a tonne, up 0.4% at 02:20 GMT
- Shanghai copper
- 110,910 yuan a tonne, up 1.2%
- El Teniente collapse
- Two workers killed; one worker survived
- Yangshan premium
- $135 a tonne, a four-year high
- Shanghai-monitored copper stocks
- 58,744 tonnes, up 51.6% from the end of September
Sources
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