World · Middle East · 1 hr ago
Copper prices rise as Chile mine disruptions and demand outlook support market
Copper prices rose on Monday amid concerns about supply and signs of stronger demand.
In Chile, state-owned miner Codelco partly suspended operations at its El Teniente mine after a landslide killed two workers and another survived.
A strike is also continuing at Antofagasta’s Centinela mine, with talks expected to resume on Tuesday through voluntary mediation.
Unions have said the strike’s full impact may be felt in November, when production is expected to fall by half.
The price premium for imported copper at China’s Yangshan port reached its highest level in four years, a sign of improving demand in the world’s largest copper consumer.
But copper stocks in warehouses monitored by the Shanghai Futures Exchange also rose sharply from the end of September.
The market is watching for further supply disruptions and the outcome of the talks in Chile.
Copper prices rose on Monday as supply concerns and a more positive demand outlook supported the market.
Three-month copper on the London Metal Exchange gained 0.4% to $14,598 a tonne by 02:20 GMT.
Chile’s state-owned Codelco partially suspended operations at the El Teniente mine after a landslide killed two workers and left another worker alive.
A strike continued at Antofagasta’s Centinela mine, while labor talks were due to resume on Tuesday.
China’s Yangshan copper premium reached a four-year high, although copper inventories monitored by the Shanghai Futures Exchange also rose sharply.
- Who
- Copper markets, with supply developments involving Chilean mining companies Codelco and Antofagasta.
- What
- Copper prices rose, supported by concerns about supply disruptions and signs of stronger demand.
- When
- Monday, October 12, 2026; prices were reported at 02:20 GMT.
- Where
- London and Shanghai futures exchanges; supply disruptions were reported at mines in Chile.
- Why
- Concerns about mine disruptions and a more positive demand outlook supported prices.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
Copper prices recorded weekly gains.
Codelco partially suspended operations at El Teniente after a landslide killed two workers and left another worker alive.
Copper prices rose in London and Shanghai.
Talks on the Centinela mine strike were due to resume under voluntary mediation proposed by regional labor authorities.
- London copper
- Up 0.4% to $14,598 a tonne
- Shanghai copper
- Up 1.2% to 110,910 yuan a tonne
- El Teniente
- Two workers killed in a landslide; Codelco partially suspended operations
- Centinela strike
- Full impact expected in November, when production was expected to fall by half
- Yangshan premium
- $135 a tonne, a four-year high
- Shanghai copper inventories
- 58,744 tonnes, up 51.6% from the end of September
Sources
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