Copper Set for First Monthly Gain in Four on Mine Supply Concern
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Copper was poised for the first monthly gain in four amid concern that miners will refuse to resume work at Freeport-McMoRan Copper & Gold Inc.’s Grasberg mine in Indonesia after an accident halted production.
The metal for delivery in three months on the London Metal Exchange advanced as much as 0.4 percent to $7,349.25 a metric ton and was little changed at $7,310.25 at 4:06 p.m. in Tokyo. The price has gained 3.5 percent this month. Futures for delivery in July on the Comex were little changed at $3.3105 per pound.