(VIANEWS) – According to La Escondida’s workers union, members rejected the latest contract proposal from its owner. They voted to strike and risk disruptions in the supply of copper as the global economy recovers from the effects of the coronavirus pandemic.
According to the Wall Street Journal, Minera Escondida is Chile’s biggest copper mine. It produces almost 5% worldwide of the metal. This is used in electrical wiring, motors, and construction among other uses.
Copper (HG) is currently on bearish momentum. At 13:04 EST on Monday, 2 August, Copper (HG) is at $4.43 and 1.1% down since the last session’s close.
Today’s last reported volume for Copper is 54588, 100% below its average volume of 20328034152.96.
About Copper’s daily highs and lows, it’s 1.104% down from its trailing 24 hours low of $4.48 and 1.784% down from its trailing 24 hours high of $4.51.
Copper’s last week, last month’s, and last quarter’s current volatility was 0.90%, 0.21%, and 1.06%, respectively.
Copper’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 1.70% (last week), 1.18% (last month), and 1.06% (last quarter), respectively.
More news about Copper (HG).