Copper price drops to $6,000 range

MINERS processing copper at one of the mines on the Copperbelt.

DESPITE recording a slight drop on Friday, the price of copper is poised to continue trading above US$6,000.
The price, which most of last week was on an upward trend but failed to sustain the rise and dropped by 0.4 percentage point to US$6,047 a tonne, will remain generally favourable.
Reuters reports that the price of copper on the London Metal Exchange (LME) was poised for a seventh consecutive weekly gain to notch up a longest winning streak in nearly three years, despite a slight easing on the day after top supplier Chile assured traders of a steady output.
Mining giant Chile held its production of copper steady in May versus the previous year even as the CLICK TO READ MORE

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