As a result of disappointing China’s economic statistics, signals of low demand, and an abundance of supply, copper prices dipped on Thursday, 

On Monday, prices soared to a five-month high of $8,600, up 15% from the beginning of November. 

China is by far the largest user of metals, and while COVID-19 cases there are on the rise.

Chinese copper imports premiums have decreased from $144.50 per metric tonne last week to $102.50 per metric tonne,

Strike at Chile’s Escondida Copper Mine Additionally, supply appears to be abundant on the LME. 

The workers at Chile’s Escondida, the largest copper mine in the world. Announced a strike on Tuesday, which might benefit copper.

“Only Aluminum prices increased on the LME to 0.17% at $2,409 per tonne”, Zinc were down to 0.72% at $3,034 per tonne, Lead were down to 0.65% at $2,146 per tonne, and tin were down to 1.11% to $23,150 a tonne.