Tin Hits Record High, Copper Eases on Chile Strike

LONDON -- Tin rose over 6 percent on Wednesday hitting a record high on persistent supply woes, while copper prices were underpinned by a strike in Chile, analysts said.

"Both tin and copper are responding to the supply problems that are very evident," analyst Kevin Norrish at Barclays Capital said, referring to concerns about tin output from China and Indonesia and a copper strike in Chile.

Copper for delivery in three months on the London Metal Exchange MCU3 eased $5 to $8,695/8,695.5 a tonne at mid-session, after touching a record high of $8,880 last week.

Dealers said they kept a close eye on developments in top producer Chile, which pushed prices 2.2 percent higher in the previous session. Codelco's Andina and Salvador mines in Chile were still shut due to the strike.

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