LONDON (Commodity Online) : Global copper prices eased Tuesday after earthquake hit Chile's Codelco mine reported minimum damage to its facilities.
Chile is one of the largest producers of the industrial metal. However, most of its production plants and mines are in the north of the country, while the earthquake struck near the country's southern region.
May copper rose 6.6 cents, or 2 percent, to settle at $3.35 a pound. In morning trading, prices climbed as high as $3.487 a pound.
Copper has risen steadily since hitting its low for the year in early February. The rise has mainly been tied to increased expectations for demand.