Copper rises on flat US dollar, Peru strike
Copper prices hit a nine-day high on Wednesday, buoyed by a stagnating US dollar and a strike in Peru.
The red metal closed at US$3.063/lb in London, up almost three cents and at its highest point since November 3, as the dollar traded below 80.5 euro cents for most of the day.
The price rise also came amid concerns over the impact of a three-day strike at Minera Antamina in Peru, which operates the world's largest combined copper-zinc mine. The stoppage could curb Peru's copper production this year.
Prices of all other main base metals also improved or remained flat.
Aluminum rose US$44 to US$2,062/t, with lead up US$16 at US$2,034/t and zinc up US$37.50 at US$2,274.50/t. Nickel gained US$445 to close at US$15,535/t, and tin rose US$225 to US$20,150/t, with molybdenum flat at US$21,000/t.
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