Watch News on Strikes in ChileCopper price is being driven by short-selling based on fears of trade war and collapsing Chinese economy, but fundamentally the price is way below that required to ensure supply meets demand. One Chilean mine (Caserones) already voted to strike, Escondida extended negotiations with BHP to end of day today, but still far apart on wage demands. Chuquicamata miners protesting over fears about reduced workforce.
A strike at Escondida would signal a supply shock in a tight market, selling today could be a bear trap in front of a reversal, something to watch for...
USD strength is a big problem, though....