The three-month copper price hit a high of $6,331 per tonne, supported by the imminent news from wage negotiations at Escondida.
Unionized workers at the Chilean copper mine could take industrial action at the end of the month if a new labor contract it not struck.
"I’ve always said strikes are contagious diseases, it’s clear union people communicate and watch what’s going on. Clearly there is a relationship," Freeport-McMoRan chief executive officer Richard Adkerson said during an earnings call today.
Freeport's Cerro Verde mine in Peru, along with several other copper mines in South America, have labor...