Copper

Copper was on track for a weekly gain as Chinese import demand strengthened after the holiday and inventories outside the United States tightened. The ongoing Centinela strike in Chile added to concerns about mine-supply disruptions.

Copper edged higher after workers at Antofagasta’s Centinela mine began striking, although a stronger dollar and weaker broader markets limited gains. Traders were also assessing whether U.S. stockpiling ahead of possible tariffs would continue.

Copper rose as weak U.S. payroll growth reduced expectations of an imminent Federal Reserve rate hike, supporting commodities. Prices remained near record levels, underpinned by tariff-driven inventory shifts to the United States and demand from data centers and renewable energy.