SMM6 18: Chuquicamata Copper Mine No. 3 trade union president Rolando Milla said the strike has entered the fourth day, but so far there has been no dialogue between the union and Codelco.
On Sunday, Codelco said the mine was currently operating at 60 per cent of capacity, but the union denied the statement.
Workers from union 1, 2 and 3 at the Chuquicamata copper mine went on strike at 5: 00 a. M. on Friday, blocking all roads to the mine.
The strike is likely to have a more far-reaching impact, with Chuquicamata producing 321000 tons of copper last year, accounting for about 2 per cent of the global copper supply, so the strike is likely to tighten the global copper supply.
SMM believes that in May spot copper concentrate TC maintained a downward trend, the current clean mine spot TC at US $60 / ton, directly pointing to the psychological threshold of US $60 / ton, some of which have been traded below 60. The restart of Codelco's Chuquicamata copper smelter has been blocked for further pressure testing at the smelter. "correlation Analysis-[SMM interpretation] the tightening pattern of strike copper mines in Chuquicamata Copper Mine is still intensified.
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