Problems at Escondida with wage negotiations - two rounds of negotiations have failed, now into their third round. If it turns into a full strike the copper price will go higher. Last year it turned into a 44 day strike and it only ended when the workers agreed to extending their existing employment contract to July 2018.
This could see the copper price rise and then reset for the longer term at a higher level (which is what happened last time), maybe mid to high $3/lb.
HGO Price at posting:
9.1¢ Sentiment: Buy Disclosure: Held
