Copper on the London Metal Exchange received a higher price in response to a long strike in Chile from the Escondida copper mine. Metal on the LME for 3-month delivery traded at $ 5840.50 a tonne, after a 0.4 percent increase.
Two months ago in Chile, a strike of 2,500 miners began at the world's largest copper mine, Escondida, in the Atacama Desert. The mine owner, Australian company BHP Billiton, wants to introduce a new, much worse pay system and working conditions.
The miners' union proposed a 7 percent increase in existing wages and very high compensation for the strike as a condition for the end of the strike.
For more than 30 days, the strikers rejected proposals submitted to them by BHP Billiton to resume negotiations.
On Wednesday, almost all industrial metals in commodity markets were more expensive on the eve of the Fed's monetary policy decision in the evening. According to analysts, the Fed will increase the cost of borrowing by 25 basis points.
Chilean miners provide support to copper prices in London
There are no comments yet.