- Advertisement -
HANOI- Copper prices rose on Monday as worries over supply from top producer Chile mounted after workers at two mines rejected a contract offer from the company and threats of a strike loomed.
A union representing workers at BHP’s Escondida and Spence mines in Chile rejected the company’s contract offer, raising the risk of a strike at the two sprawling copper deposits, the union’s president said on Friday.
“Supply side issues may be back in focus” after the rejection of a final wage offer, ANZ said in a note. Chilean law allows either party to now request a five-day government mediation period, extendable for an additional five days, ahead of any eventual strike. BHP told Reuters it believed the two parties could still reach an agreement.
- Advertisement -
Author
- Advertisement -
