Copper Rises as BHP Guides for Lower Output

Copper prices are edging higher, supported by a weaker dollar and concerns surrounding supply. The metal is up 0.2% at $6,487.50 a metric ton. Miner BHP said its quarterly copper production fell 3% and guided for less output next year due to coronavirus disruptions. The news was lifting copper prices, which have gained over recent months in part because of supply challenges, says Anna Stablum at brokerage Marex Spectron. She also points to a weaker dollar, which makes dollar-denominated copper more affordable for international buyers, as lending prices some support.