The Price Of Copper Rose 1 Percent

The price of copper rose 1 percent on Monday to its highest level in over two weeks, buoyed mostly by supply disruptions after workers at Peru's top copper miner downed tools indefinitely late last week.
However, base metal prices are unlikely to rise much further ahead of the U.S. Federal Reserve meeting this week, Pedersen said, as expectations of an interest rate increase will push up the dollar, making metals more expensive for investors holding other currencies.

Other commodities also suffered their biggest weekly declines in months last week after recent rallies showed signs of petering out, pressured by a glut and tepid demand from top consumer China. The union at BHP's Escondida mine, the world's largest, rejected BHP's offer to return to the negotiating table on Saturday, and called on the company to clarify its negotiating position.

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Suhani Verma

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