Copper is rising in price on Monday on growing fears of a reduction in supplies of the metal to the global market due to a strike at a mine in Chile.
The price of copper futures with delivery in three months on the London Metal Exchange (LME) rose during trading by 3.42% to $12896 per tonne. Earlier in the session, the increase in the value of these contracts reached 3.5%.
By the end of 2025, the price of copper rose to a record $12960 per tonne.
In Shanghai, the metal’s value rose 2.68% to 101,350,000 yuan ($14521.1) per tonne on Monday.
Last Friday, hundreds of miners went on strike at Capstone Copper’s Mantoverde gold-copper mine in northern Chile over a labour dispute with its management.
This intensified fears of a global copper supply shortage in 2026, which contributed to the metal’s price climbing by more than a third last year (the best performance since 2009).