LME Commentary: Copper closed higher and supply was tighter and led the market

London, July 20 news, LME copper prices rose more than 3,400 US dollars on Wednesday, the tight supply factors dominate the market. Three-month copper closed at $3,404 per ton, up $9 from Tuesday's close, and hit an intraday high of $3,414. BHP Billit on said that the exploitation of the Olympic Dam mine has been suspended and that there had been casualties in the area. Nchanga copper miners in Zambia have gone on strike due to salary issues and have previously turned violent. In the United States, the Asarco copper mine cut production in the past two weeks because of the strike. The company will discuss with trade union leaders on Friday, but union leaders say the prospects for negotiations are not optimistic. Dealers said LME copper stocks are still hovering near the 31-year low, despite an increase on Wednesday, while other supply side concerns remain. Three-month aluminum closed up $9 to $1,832. Three-month zinc rose by 30 dollars to close at 1,240 dollars. Nickel increased by 300 U.S. dollars to 14300-14350 U.S. dollars. Lead fell by 16 dollars to 835-836 dollars.