Copper fell 1.23% on the week to US$6.54 a pound (US$14,415 a tonne) on the London Metal Exchange, according to Chile's state copper commission Cochilco, after a ten-day strike at Chile's Centinela mine ended. The strike by 709 workers ended with a three-year contract agreed on 18 October, including a bonus of 24 million pesos (about US$24,100). Cochilco said London warehouse stocks jumped 17.9% in the week to 273,750 tonnes, while visible stocks across London, New York and Shanghai rose 2.8% to 1,051,897 tonnes, and investors grew cautious after a fall in technology shares. According to the US Geological Survey, Chile supplied 68% of US refined-copper imports from 2021 to 2024, and New York warehouses hold 69% of the copper stocks visible on the three big exchanges.
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