| Copper futures rose to the highest in more than a week as prospects for a strike at a mine in Peru sparked supply concerns. Workers at the Antamina mine in Peru plan to stop work tomorrow at midnight over pay and bonuses, said Jorge Juarez, a union leader. The site, owned by BHP Billiton Ltd. and Glencore Plc, is the world’s sixth-biggest source of the metal by capacity, according to the International Copper Study Group.
“Strikes are always in general supportive for prices when the news first breaks,” Edward Meir, an analyst at INTL FCStone Inc. in New York, said in a telephone interview. “If the market senses the strike is sticking because supplies really start actually decreasing and you see pressure on inventories, then it becomes something serious.”..............................................Full Article: Source
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