Off the wire
• Interview: Trade, investment remain stability source for China-U.S. relationship: USCBC president  • Finland, Uruguay look to closer cooperation in bioeconomy  • Chile's president to attend China's Belt and Road forum  • Roundup: Resilient eurozone economy to keep recovery on track despite uncertainties: report  • Evacuations from areas near dam in N. California continue, says local official  • French president says NATO should boost action to adapt growing security threats  • Roundup: Serbia dissatisfied with EU's failure to fulfill promises over migrant crisis: PM  • Spotlight: EU-Canada trade pact faces final hurdle at European Parliament  • Czech man accused of knowingly spreading HIV under trial  • PLO decides to head to UN Security Council against Israeli settlement expansion  
You are here: 　 Home

Chilean miners' strike pushes copper prices to 20-month high

Xinhua, February 14, 2017 Adjust font size:

The price of copper rose to a 20-month high on Monday, on worries a strike at the world's leading copper mine in Chile will affect the global supply.

The price per pound (roughly equivalent to half a kilo) rose to 2.77 U.S. dollars on the London Metal Exchange, a 4.07 percent increase over the previous price of 2.66 dollars.

"Copper futures rallied to the highest level since May 2015 ... amid concerns over an ongoing strike," according to the website Investing.com.

Miners at northern Chile's Escondida mine walked off the job on Thursday, after their demands for wage increases were rebuffed.

The Anglo-Australian mining giant BHP Billiton, which owns a controlling share of the mine, announced it would shut down operations at the world's biggest copper producer for a month.

On Monday, the company said it could not meet its delivery obligations due to the strike.

Escondida produces five percent of the world's supply of copper. Enditem