Sept. 25 (Bloomberg) -- Copper rose in Shanghai on concern that a strike for higher wages by workers at Southern Copper Corp., the world's fifth-largest producer of the metal, may disrupt supplies and further deplete global stockpiles.
Peruvian workers yesterday notified the Labor Ministry and the company of their intent to go on strike Oct. 2, a union official said.
Copper for December delivery on the Shanghai Futures Exchange traded up 0.3 percent, or 210 yuan, at 67,700 yuan ($9,014) a metric ton at 9:37 a.m. local time.
London Metal Exchange copper for delivery in three months fell 0.4 percent to $8,005 a ton at the same time, after advancing 2 percent yesterday.
December delivery copper on the Comex division of the New York Mercantile Exchange lost 0.2 percent to $3.6380 a pound, after rising 1.5 percent yesterday.
Stockpiles of copper monitored by the London Metal Exchange fell for a third straight day, by 800 tons, to 131,775 tons yesterday, while copper reserves in Shanghai warehouses fell 3,784 tons to 55,981 tons last week.
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