Roadblock ups copper price

THE copper price rose to its highest in six weeks after news of a production halt by the world’s largest publicly traded copper producer due to a workers dispute, according to Bloomberg.
Roadblock ups copper price Roadblock ups copper price Roadblock ups copper price Roadblock ups copper price Roadblock ups copper price

Freeport McMoRan suspended output at Grasberg on Monday, while concentrate shipments from inventories continue.

About 50 workers from Papua Province set up a roadblock on Monday at the company's Grasberg mine in Indonesia, a move that was not organised by the union.

Indonesian newspaper Kompass reported on March 16 that the striking workers were seeking a promotion as incentives for not participating in a labour dispute last year.

PT Freeport Indonesia spokesperson Daisy Primayanti said the company was seeking a resolution to the dispute and were continuing their talks with the workers.

Meanwhile, gold forecaster Artur Passos said his views had not changed on gold, despite officials from the Federal Reserve signalling a slower pace of monetary tightening.

The precious metal has lost some of its lustre due to higher borrowing costs.

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