Copper firms with focus on supply developments in Chile

Business Recorder reported that copper gained ground on Wednesday as supply worries in Chile, the leading producer, drew attention to activity at major mines. Three-month copper on the London Metal Exchange reached $14,673.50 per metric ton as of 0303 GMT, up 0.7%. In Shanghai, the most actively traded copper contract rose 0.4% to 111,330 yuan ($16,638) per tonne.

TD Securities analysts said the Chilean supply picture remained the main focus, with strike votes, worker deaths, operational disruptions and mine restart reports keeping a supply risk premium in the price. They argued that any worsening in Chile would add near-term support, while tariff uncertainty and inventory reshuffling continued to weigh on the market.

Labour disputes added to the pressure. The supervisors' union at BHP's Escondida planned to begin a walkout on Wednesday after mediation failed to produce a new labour contract. Separately, Centinela's talks with two unions resumed Tuesday to end a week-long stoppage, and Codelco partly halted El Teniente after a deadly landslide at the weekend. Inventories outside the US have tightened after metal flowed into America in anticipation of possible tariffs.