Copper Extends Gains on Mounting Supply Disruptions
Copper futures rose above $6.70 per pound on Wednesday, moving closer to record highs as labor strikes and adverse weather conditions disrupted mining operations across Chile, the world’s largest copper producer. Workers at BHP Group’s massive Escondida mine are set to begin a strike after union leaders reported that wage negotiations failed to reach an ...
Copper prices surged above $6.70 per pound on Wednesday, inching closer to record highs as mining disruptions in Chile intensified. Labor strikes at major copper mines operated by BHP Group and Antofagasta Plc, coupled with an avalanche that claimed two lives at Codelco's El Teniente mine, have hampered production. Meanwhile, demand remains strong, driven by increased orders for data centers, semiconductors, and battery storage systems supporting emerging technologies and electric vehicles in Asia.
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