Copper's three-month price on the London Metal Exchange consolidated at the close of trading on Thursday June 13, improving from an intraday low of $5,811.50 per tonne and closing marginally higher despite fresh inflows totaling more than 37,000 tonnes.
News of strike action at Chilean state-owned copper producer Codelco's Chuqicamata mine helped to improve copper's three-month price over the day, offsetting downward price pressure that emerged after the morning's delivery.Market participants considered the strike's likely effect on prices to be broadly minimal, with Chilean copper production on a downtrend since 2015.Copper volumes traded on the LME were moderately low over the day, with just over 14,000 lots exchanged by the close. The red metal's forward spreads remained in a...