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Wednesday, July 12, 2006

Can't Keep Copper Down!

Can't keep Copper down! Just when you thought Copper prices had peaked comes new supply concerns, as escalating labor issues hit the Escondida Copper mine in Chile. Trade unions there report that labor contract negotiations are not likely to start any time soon, despite the expiration of their contract at the end of July. Miners are preparing to strike on August 2nd. This news coupled with low global supplies of the red metal have caught the eyes of bullish speculators once again, causing the recent rally. Read More....