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Strike in Peru adds to Copper Disruptions
June 30, 2008 @ 10:32 am In Copper Market News
Bloomberg reports that a new strike in Peru will affect copper prices around the world. 28,000 miner are striking to pressure for a better share of profits and better pensions.
Strikes have cut copper output in Peru, Chile and Mexico, helping fuel a 27 percent rally in the price of the metal this year. Copper has climbed fivefold in the past five years as rising demand outpaced production, eroding global stockpiles.
The full article is available here [1]
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[1] here: http://www.bloomberg.com/apps/news?pid=20601082&sid=a0P2lXiyOAuU&refer=canada
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