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According to news, London copper rose on Friday, ending a six-day losing streak as inventories temporarily increased and Peru's Cerro Verde copper mine began an indefinite strike, causing supply worries to increase
.
Industrial metals rose broadly as the week-long global commodity market decline began to lose momentum
.
A stronger dollar, oversupply fears and modest Chinese demand weighed on global commodity markets lower
.
Saxo Bank said renewed supply disruptions were a negative impact
on supply.
Previously, the market had been focusing on the rise of the US dollar and the significant increase
in LME inventories.
Copper miners in Cerro Verde, Peru, which produces 40,000 tonnes of copper a month,
began a strike on Friday.
This follows the disruption of supply to the world's two largest copper mines in Chile and Indonesia
.
LME copper stocks fell by 1,800 tonnes on Friday, but remained up 125,500 tonnes or 63% from early March and at their highest level
since December, the data showed.
Rising inventories also dragged copper prices down 4 percent so far this month, prompting investors to close long positions
.
Three-month copper on the London Metal Exchange (LME) closed up 0.
7% at $5,732 a tonne at 17:00 London time on March 10 (01:00 Beijing time) in the previous session, after hitting its lowest price since January 10 at $5,652
.
