AI-generated summary
The reopening of markets after China's one-week holiday had an impact on copper demand as a major consumer country. The strike at the Centinela mine in Chile is considered to affect production.
Copper rose as markets reopened after a week-long holiday in China.
While copper futures contracts on the London Metal Exchange (LME) increased by up to 1.2 percent, other base metals and iron ore contracts in Singapore also rose.
Copper prices were additionally supported by a strike at the Centinela copper mine in Chile. The strike initiated by two unions in the mine operated by Antofagasta is expected to affect production in about two weeks. The company announced that there was no change in its production target.
Investors also follow the interest policy of the US Federal Reserve.
Markets price the possibility of an interest rate increase as 20 percent in October and 80 percent in December. High interest rates suppress demand for commodities that do not yield interest.
AI outlook — possibilities, not facts
Copper prices may continue to rise in the short term
Likely · Within weeks
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