SINGAPORE, July 13 (Reuters) - Shanghai copper hit its highest in nearly 25 months on Monday, while London copper scaled a 24-month high, on supply worries from top producer Chile due to a potential strike at a mine.
The most-traded August copper contract on the Shanghai Futures Exchange jumped as much as 6% to 53,520 yuan ($7,642.66) a tonne, its highest since June 15, 2018.
Three-month copper on the London Metal Exchange climbed as much as 3.3% to $6,622.50 a tonne, a level unseen since July 3, 2018.
Workers at Antofagasta Minerals’s Zaldivar copper mine in Chile voted in favour of strike action after rejecting a pay offer, the mine’s union said on Friday, adding that a strike had been set for July 15, pending government mediation.
* COPPER STOCKS: ShFE copper inventories CU-STX-SGH rose 20.1% in a week to 137,336 tonnes on Friday, the second straight week of gain. However, the stockpiles level is still 64% lower than its 2020 peak in March.
* SHANGHAI PRICES: Aluminium hit near a 26-month high at 14,765 yuan a tonne while zinc touched a 5-1/2-month high at 18,025 yuan a tonne. Lead scaled to its eight-month high at 15,530 yuan a tonne.
* LME PRICES: Aluminium rose to its four-month high at $1,696 a tonne, nickel hit a five-month peak of $13,580 a tonne and zinc touched its highest since Feb. 7 at $2,207.50 a tonne.
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* Asian shares got off to a firm start as investors wagered U.S. earnings season would see most companies beat forecasts given expectations had been lowered so far by coronavirus lockdowns.
1530 UK Bank of England Governor Andrew Bailey delivers
a speech at webinar “Libor: Entering the Endgame”
$1 = 7.0028 yuan Reporting by Mai Nguyen; Editing by Shailesh Kuber