NEW YORK, July 31 news, COMEX copper rose to the highest level in two weeks on Tuesday.
August copper futures closed up 4 cents at $2.8190 a pound.
The most active September copper contract closed 3.95 cents higher at $2.8315 per pound.
Copper prices have rebounded slightly since hitting a one-year low earlier this month, but are still down nearly 14% from the four-year high set in June. Despite the price increase on Tuesday, copper futures were the worst since September 2017.
Some analysts worry that protecting the lives will reduce the demand for copper, which is used in everything from air conditioners to electric vehicles.
The Chilean state-owned copper company (Codelco) Chuquicamata copper mine union leader said that the copper miners left their posts on Monday and blocked the mine’s entrances and exits.
The Chilean state-owned copper company criticized the act as “illegal.” The copper mine is the company’s second largest copper mine.
BHP Billiton’s Escondida copper mine union leader said on Monday that the union is expected to reject the final version of the salary contract proposed by the employer, increasing the possibility of a strike. The mine is the world’s largest copper mine.
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