Economics
Here's Why the World of Copper Is Transfixed by a Strike in Chile
- BHP’s Escondida in seventh day of strike amid copper rally
- Chilean government offering to mediate wage negotiations
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Copper, sometimes referred to as having an economics Ph.D for its ability to track the economy’s health, is on a tear. But it’s supply rather than demand that’s filling headlines in the current rally.
Coming after Chinese consumption recovered and Donald Trump pledged a $1 trillion infrastructure spend, the prospect of a prolonged stoppage at BHP Billiton Ltd.’s Escondida mine in Chile is getting copper bulls excited and spooking the owners of other mines with labor contracts up for renewal.