(VIANEWS) – Escondida union leaders are urging workers to reject the final wage offer from owner BHP Group. This could lead to a strike at the largest copper mine in the world at a time when global supply is tight and prices are high.
Bloomberg Quint confirmed Wednesday that a Chilean wage offer was not in line with worker demand. The union stated in a statement that the proposal, which had been presented at the conclusion of regular wage negotiations in Chile, is inadequate. They are pushing for more hours to increase productivity. Through July 31, the 2,330 members of the union will have the opportunity to vote on this offer.
Copper (HG) is currently on bullish momentum. At 05:04 EST on Thursday, 29 July, Copper (HG) is at $4.53 and 1.05% up since the last session’s close.
Today’s last reported volume for Copper is 21613, 100% below its average volume of 20426713796.52.
Regarding Copper’s daily highs and lows, it’s 1.116% up from its trailing 24 hours low of $4.48 and 0.973% down from its trailing 24 hours high of $4.57.
Copper’s last week, last month’s, and last quarter’s current volatility was a negative 0.09%, a negative 0.06%, and a positive 1.07%, 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 1.40% (last week), 0.88% (last month), and 1.07% (last quarter), respectively.
Last news about Copper (HG)
Copper producers are paying the price of their covid cutbacks. According to Bloomberg Quint on Monday, 26 July, “Southern Copper Corp. missed quarterly output expectations as the world’s fifth-largest producer deals with the lingering effects of the pandemic.”
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