Copper Prices Hold Steady Amid Chile Strike Risk

Copper prices held steady above $14,400 a tonne on the London Metal Exchange despite growing concerns about a potential supply disruption in Chile. The metal is poised for its third consecutive monthly gain, with prices up around 9% in September after reaching a record high of $14,875 earlier this month.

The strike risk grows as workers at Antofagasta's Centinela mine in Chile voted to reject the company's final contract offer on Monday. A mandatory mediation period will follow before a walkout could begin, although it is unclear when or if the strike will occur.

Meanwhile, wage talks at BHP's Escondida, the world's largest copper mine, were delayed following a fatal accident. The supply squeeze has been exacerbated by large volumes of refined copper stockpiling in US warehouses due to anticipated import tariffs.