Copper surges as Chile closes border

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    HANOI- Copper prices rose to their highest in two weeks on Tuesday, as top producer Chile’s decision to close its border amid rising COVID-19 cases raised further supply concerns in an already tight market.

    Three-month copper on the London Metal Exchange climbed as much as 3.6 percent to $9,104 a ton, its highest since March 23.

    The most-traded May copper contract on the Shanghai Futures Exchange also hit its highest in two weeks, advancing as much as 2.3 percent to 67,670 yuan ($10,308.32) a ton.

    Chile closed its borders and tightened an already strict lockdown last week to slow the spread of COVID-19 and stop the influx of contagious new variants as cases climbed past 1 million despite one of the world’s fastest vaccination rates.