Copper Jumps Most Since 2013 as Strike Combines With China Boost
- BHP declares force majeure at Escondida mine, sources say
- Production-deficit concerns helping boost copper: TD’s Melek
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Copper posted the biggest gain in almost four years, leading a surge in metals, as exports from China jumped and BHP Billiton Ltd. signaled a halt in shipments from the world’s largest copper mine. Silver neared the longest string of weekly gains since 2011 and mining stocks rose.
Overseas shipments from China, the top industrial-metals user, rebounded in January with exports to the U.S. rising, according to customs data. BHP declared force majeure on shipments from the Escondida mine in Chile after workers began a strike Thursday, two customers notified by the company said.