Copper prices on the London Metal Exchange (LME) increased today due to concerns over supply disruptions. Production at Anglo-American’s Los Bronces copper mine in Chile is expected to drop by around 30% due to planned plant maintenance, as reported by Dow Jones.
However, recent economic data from China, the largest market for copper, has indicated weak demand, which may limit the price gains. ANZ’s research team noted that while supply shortages support prices, risks from weak demand, especially in China, remain significant. They highlighted that the reluctance of Chinese consumers to invest in property continues to pose challenges for copper demand. At 0758 IST, the three-month copper contract on LME was at $9,678.50 per tonne, up 0.2% from the previous close. 
