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Copper jumps on trader talk of force majeure at Escondida

Reuters
A sign adorns the building where mining company BHP Billiton has their office in Perth, Western Australia, November 19, 2015. REUTERS/David Gray/File photo

LONDON (Reuters) - Copper prices on the London Metal Exchange jumped on Friday to their highest level since June 2015, on talk of BHP Billiton (BLT.L) (BHP.AX) declaring force majeure on shipments from its Escondida mine in Chile, traders said.

Benchmark copper (CMCU3) rose 4 percent to a session high of $6,056 a tonne. It was trading at $6,042 a tonne at 1451 GMT.

A BHP spokesman said he was unable to immediately confirm that force majeure had been declared.

(Reporting by Peter Hobson and Pratima Desai)