Copper rose on Monday on growing concerns about a reduction in global supplies of the metal due to a strike at a mine in Chile.
Copper futures for delivery in three months on the London Metal Exchange (LME) rose 3.42% during trading to $12,896 per tonne. Earlier in the session, the value of these contracts rose by 3.5%.
By the end of 2025, the price of copper rose to a record $12,960 per ton.
In Shanghai, the price of the metal on Monday rose 2.68% to 101,350,000 yuan ($14,521.1) per ton.
Last Friday, hundreds of miners went on strike at the Capstone Copper gold-copper mine in Mantoverde in northern Chile over a labor dispute with its management.
This has fueled fears of a global copper supply shortage in 2026, pushing metal prices up by more than a third last year (the best result since 2009).
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