Copper on the London Metal Exchange holds the latest price levels reached, supported by China PMI data. Metal on the LME for delivery in 3 months is measured at $ 5838.00 per tonne.
The PMI index, indicating the situation in the Chinese industrial sector, was 51.8 points in March, compared with 51.6 points a month earlier, while analysts estimated the PMI at 51.7 points.
On Friday, copper on the LME fell 2 percent to $ 5838.00 per tonne. It was in response to the end of the strike at the Freeport McMoRan copper mine in Peru and reopening after more than 40 days of protest at the copper mine in Chile, which is owned by BHP Billito.
Analysts note that, among other things, strikes and floods have led to a reduction in copper supplies in the global metals markets. However, copper is currently trading 40 percent below its record high in 2011, when the metal was valued at more than $ 10,000 per tonne on the LME London Stock Exchange.
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