Copper higher on supply, strike concerns

Metals prices were up a bit on Tuesday. Gold added $1 from yesterday’s late quote in New York to trade at $569.70/$570.70 per troy ounce at the end of the session in London after having gone as low as $560 per troy ounce earlier in the session. Silver, meanwhile, added 20 cents to close the day in London at $10.09 per troy ounce.

Copper was also up, adding $20 to trade at $6,800 on the London Metal Exchange after trading lower than yesterday’s prices for most of the session. Copper inventories in LME warehouses are still very low. Also playing into the price rise was a strike threat at Chile’s Escondida mine and fears of lower demand due to China’s move to make loans more difficult to obtain.