Chile's Escondida copper miners threatened a strike to push copper prices to a three-week high. The trade union representing more than 1,000 direct employees of the Escondida mine once threatened a strike, but now it has resumed salary negotiations with the operator BHP Billiton. Before the inflation data was released, Federal Reserve Bank of New York Chairman John Williams said he thought it would be appropriate to raise interest rates again this year, and there is no need to continue to raise interest rates in 2027. Interest rate hikes will curb the economy, raise capital costs, and be bad for metal prices. At one point, Luntong rose 0.8% to 14,695 US dollars per ton; trade union leaders said there was still a chance to reach an agreement, but the increase narrowed.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.