Copper Holds Above $14,400 as Chile Strike Risk and Tight Inventories Offset Dollar and Energy Headwinds

Copper prices held above $14,400 per tonne on September 29 after a 1.4 percent drop the day before, thanks to Chilean strike risk and tight LME inventories.

The three-month LME copper price rose 0.2 percent to $14,447 per tonne, but this gain was capped by a firmer US dollar and oil prices above $100 per barrel.

Antofagasta's Centinela mine workers rejected a contract offer, and one union at BHP's Escondida mine also rejected an attempt to delay talks, raising the odds of labor action in Chile, a major copper supplier.