Copper prices fall in New York, London

Copper prices were lower Thursday as the US dollar strengthened and on a continuing strike in Chile.

December copper fell 4 cents to $3 per pound in New York trade while three-month copper prices on the London Metal Exchange dropped half a percent to $6,560 per tonne on the session.

Prices were down even though a strike against a mine in Chile was in its 10th day and a union official said that workers are ready to continue if the company will not meet its demands as an analyst said supply losses will not be large due to the strike.

Nickel and lead prices fell in London as well, but zinc saw gains on a strike in Peru while aluminium and tin also saw gains.

The stronger dollar also pushed precious metals prices down as December gold was down $5.90 to $1,058.60 per troy ounce in New York while December silver fell 28 cents to $17.55 per troy ounce and January platinum was $4.50 lower to $1,369.90 per troy ounce.

In mid-morning trade in New York, December palladium had dropped $4.20 to $337.30 per troy ounce.