HONG KONG May 14 The LS-Nikko copper plant in
South Korea is expected to halt production for at least two
weeks after an explosion caused injuries, sources with knowledge
of the matter said on Wednesday, as the shutdown drove up copper
Eight workers were injured in the explosion, which occurred
during maintenance at the smelter on Tuesday.
Benchmark copper prices on the London Metal Exchange
rose by more than 1 percent to a two-month high at $6,928 per
tonne on Wednesday.
One of the sources said that at least 250,000 tonnes of
annual capacity at the smelter had shut and was unlikely to
restart for at least two weeks, cutting the firm's overall
A spokesman for LS-Nikko Copper said: "As an internal
investigation has not been completed, it is hard to say how long
the halt will be."
The investigation of the incident may take up to two weeks,
said another source, who declined to be named because he was not
authorised to talk to media.
He added that the maintenance could continue through the end
"It (the investigation) would be just one week or two weeks
... then the maintenance would continue," the source said.
(Reporting by Polly Yam and Meeyoung Cho in SEOUL; editing by