Shanghai Futures Exchange edged up 0.2 percent to 46,000 yuan ($6,708) a tonne on Friday as traders closed out positions ahead of a long weekend. Freeport McMoRan Inc said on Thursday that mining and milling rates at its Grasberg mine in Papua, Indonesia have been affected by an extended strike, and a "large number" of about 4,000 absentee workers were deemed to have resigned.
"Supply disruptions are an ongoing issue," said analyst Amy Li of National Australia Bank in Melbourne. "It's supportive for prices, but should already be priced in. On the demand side, China is gradually slowing down, and we haven't seen much from the US - they promised a big infrastructure package but no details yet."
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