Copper Rebounds as Strike at World’s Largest Mine Continues
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Copper futures rebounded after a strike at Chile’s Escondida mine, the world’s largest source of the metal, stretched into an eighth day, signaling shrinking global supplies.
Union leaders at BHP Billiton Ltd.’s Escondida unit rejected an improved bonus offer by the company and vowed to continue the strike that has halted shipments from the mine. Escondida accounts for about a fifth of all copper produced in Chile, the world’s top supplier.