Copper rises as dollar weakens, Escondida strike looms
- The dollar held just above a one-month low, making greenback-priced metals cheaper to holders of other currencies
Copper prices rose on Monday on a weaker dollar and worries about potential supply disruption in Chile after workers at the world's biggest copper mine, Escondida, rejected a labour contract offer.
Three-month copper on the London Metal Exchange rose 0.3% to $9,755 a tonne by 0304 GMT, while the most-traded September contract on the Shanghai Futures Exchange dipped 0.2% to 71,510 yuan ($11,058.19) a tonne.
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The dollar held just above a one-month low, making greenback-priced metals cheaper to holders of other currencies, as traders held tight positions heading into a busy week that includes monthly US jobs data and a key Australian central bank decision.
The Union of workers at BHP Group Ltd's Escondida mine rejected the firm's final labour contract offer, prompting BHP to request government-mediated talks, which will last five to 10 days before a strike begins if no agreement is reached.
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