COMMODITY
Copper futures end higher on supply concerns
Jul-03-2020

Copper futures ended higher on Thursday due to concerns over supply disruptions in the world’s largest producer Chile. Australia-based miner BHP Billiton said it is ramping down operations and implementing job cuts at its Cerro Colorado copper mine in Chile amid the corona virus pandemic. The mine produced 71,700 tons of copper in 2019. Sentiments were also supported by optimism about a potential corona virus vaccine from US pharmaceutical company Pfizer and its partner BioNTech.

Copper futures for September delivery added $0.0145 to settle at $2.7485 a pound on the Comex metals division of New York Mercantile Exchange. While, Copper on the London Metal Exchange was up 0.2% at $6,073 a ton.

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