Copper price jumps as Chile close its borders

Copper price jumped on Monday as investors assessed a decision by Chile to close its borders during April.

Copper for delivery in May was up 2.96% by midday, with futures at $4.1075 per pound ($9,035 a tonne) on the Comex market in New York.

The world’s top exporter of the metal closed its borders for a month as reported a daily Covid-19 record of 7,830 infections last week, an all-time high for occupied hospital beds, and a nationwide positivity rate of 11%.