Copper Prices Jump After Leading Producer Chile Closes Its Borders

Copper price jumped on Monday as investors assessed the decision by Chile to close its borders during April due to a spike in covid-19 cases. Copper for delivery in May was up nearly 4% in afternoon trade, with futures at $4.1390 per pound ($9,125 a tonne) on the Comex market in New York.The world’s top exporter of the metal closed its borders for a month as reported a daily record of 7,830 infections last week, an all-time high for occupied hospital beds, and a nationwide positivity rate of 11%. Chilean citizens and foreign residents…