Copper closed only slightly higher on Friday on the London Metal Exchange despite price-supportive news of force majeure being declared at the Las Bambas copper mine in Peru.
The three-month copper price ended at $5,796 per tonne, a mere 0.2% higher than Thursday's close, even after the declaration of force majeure by miners MMG and Citic Metals at Las Bambas, which will affect the supply of copper concentrates.Blockades have been in place at the mine, which produced 385,299 tonnes of copper in concentrate in 2018, since September 22. While the blockades are yet to affect production, it is likely...