Copper Falls in Asia as Southern Copper

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Copper Falls in Asia as Southern Copper


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Copper fell in Asia as Southern Copper Corp. sought to end a strike for higher wages by workers in Peru, and as the dollar's strength damped demand from non-U.S. buyers of the metal.

Southern Copper, the world's fifth-largest producer of the metal, said yesterday that it would meet workers at its Ilo smelter and Toquepala and Cuajone mines. The workers went on strike Oct. 2 for a third time this year after rejecting an 11.5 percent wage increase.

London Metal Exchange copper for delivery in three months fell 0.5 percent to $8,261 a metric ton at 9:48 a.m. in Singapore, after climbing as high as $8,315 a ton yesterday.

December delivery copper on the Comex division of the New York Mercantile Exchange lost 0.3 percent to $3.7540 a pound at the same time, after rising to as much as $3.7775 a pound yesterday.

China's markets are closed for a week-long holiday.

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