LONDON, July 3: Copper prices soared to historic heights on Thursday, boosted by a weak US currency and strike action by miners in Chile, traders said.

On the London Metal Exchange (LME), copper for delivery in three months hit $8,940 a tonne, beating the previous high of $8,880 that was set on April 17.

“The move in copper was in reaction to a weaker dollar ... and concerns about the impact of strike action in Chile,” said UBS analyst John Reade.

The Latin American nation is the world’s biggest producer of copper, which is used for electrical wiring and plumbing.

Copper futures also benefited from a weak dollar, which makes the base metal cheaper for buyers using stronger currencies.—AFP