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Lower production in Chile pushes copper higher

LONDON--Copper edged higher in London on Wednesday, buoyed by news of lower supply in Chile and as funds covered short positions after more than a month of declines in the price of the metal.

Most analysts, though, believe that Wednesday's gains will prove short-lived, as investors refocus on market fundamentals, including high supply, a strong dollar and the decelerating Chinese economy.

The London Metal Exchange's three-month copper contract was up 0.43% at $4,629 a metric ton in mid-morning European trade. Copper is now down 1.28% for the year-to-date even as most other industrial metals have maintained double...


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