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Copper Prices Up Due To Supply Concerns

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December 01 2023 01:33AM

Copper prices are set to end the week higher on supply concerns, while a weaker dollar is also providing support for gold.

Copper’s strength has come from supply concerns, with the Panama government looking to shut First Quantum’s copper mine in the country while strikes are affecting production in Peru, according to ANZ.

“The decision by Panama’s government to shut the First Quantum’s Cobre mine brings back into focus supply side issues that have plagued the sector over the past couple of years,” ANZ said.