Copper Prices Rise Amid Chinese Supply Concerns

Copper prices have risen slightly to end the week in positive territory due to supply concerns in China. According to David Wilson, head of metals strategy at BNP Paribas, 'visible inventories in China have dropped off quite a lot, while smelters have been announcing reduced production schedules for maintenance… the Chinese market is clearly quite tight.'

The Shanghai Futures Exchange reported that copper inventories in warehouses monitored by it fell 15.9% from last Friday to 47,147 tons on Thursday.

Operations at BHP's Escondida mine in Chile were suspended on Wednesday after a worker was killed in an accident, adding to supply concerns.