Are Copper Bulls Over-Relying on Supply Disruptions in 2018?
Among other factors, expectations of supply-side disruptions at leading copper mines boosted copper market sentiment. To be sure, several labor contracts at leading copper mines—including BHP Billiton’s (BHP) Escondida—are coming up for negotiation this year. Last year, we saw labor action at several mines, including Escondida and Freeport-McMoRan’s (FCX) Grasberg, which are the world’s largest copper mines (ANTO).