Copper prices soared to $4.2760 this morning on the New York Mercantile Exchange after China, the world’s largest consumer of the red industrial metal, said its November refined copper imports surged 37% compared with October’s number. News that a Chilean copper mine, Collahuasi, is shutting down production for the time being due to a port accident may also be contributing to copper’s ascent today as traders speculate that supplies may be crimped by the closure. Collahuasi is the world’s third-largest copper mine.
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