Risk of further unplanned disruptions in copper remains high amid Escondida standoff - ANZ

seekingalpha08-15

Supply side issues are again threatening to tighten the copper market after workers at BHP’s (BHP) Escondida copper mine in Chile have downed tools over pay and conditions. This could impact over 5% ...

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This could impact over 5% ...</p>\n\n<a href=\"https://seekingalpha.com/news/4140250-risk-of-further-unplanned-disruptions-in-copper-remains-high-anz-says\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Risk of further unplanned disruptions in copper remains high amid Escondida standoff - ANZ</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRisk of further unplanned disruptions in copper remains high amid Escondida standoff - ANZ\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-15 17:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4140250-risk-of-further-unplanned-disruptions-in-copper-remains-high-anz-says><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Supply side issues are again threatening to tighten the copper market after workers at BHP’s (BHP) Escondida copper mine in Chile have downed tools over pay and conditions. This could impact over 5% ...</p>\n\n<a href=\"https://seekingalpha.com/news/4140250-risk-of-further-unplanned-disruptions-in-copper-remains-high-anz-says\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RIO","symbol_name":"力拓","start_time":0,"source_url":"https://seekingalpha.com/news/4140250-risk-of-further-unplanned-disruptions-in-copper-remains-high-anz-says","article_id":"2459744557","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/683747489/image_683747489.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2459744557","pubTimestamp":1723714720,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Supply side issues are again threatening to tighten the copper market after workers at BHP’s (BHP) Escondida copper mine in Chile have downed tools over pay and conditions. 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This could impact over 5% of global supply, ANZ Research said on Thursday. BHP (BHP) and the union held a preliminary meeting to try to close the gap between the two sides and get back to formal talks, but the attempt failed.  Copper futures (HG1:COM) rose +1.31% to $4.09 in early trading on Thursday. This comes just after Lundin Mining (OTCPK:LUNMF) reduced operations at its copper mine in Chile in response to striking workers, increasing the risk of unplanned disruptions. Several mines in Chile, representing approximately 900kt of copper or 4% of global supply, have yet to finalize wage discussions. Factors such as commissioning issues, power instability and operational challenges are headwinds for the mining industry, ANZ added. Analysts, however, are confident that a supply disruption factor of 6% in 2024 will be met, and even if just a fraction of the upcoming labour negotiations results in lost supply, the market deficit in copper is likely to increase, which should offset any concerns over weaker demand in coming months. Unplanned disruptions to supply have been a feature of the copper market. At the beginning of 2024, mine production was forecast to grow by over 6% y/y. After only one month, this growth forecast decreased to 3.9%. This has largely been the result of the forced closure of the Cobre mine in Panama, ANZ noted. Meanwhile, British mining company Anglo American (OTCQX:AAUKF) decided to slash production. As per the brokerage's estimate, year to date, disruptions are tracking around 3.5%, leaving potentially 370kt of copper supply disruption for the rest of the year.  The weighted average total cash cost for global copper supply last year was up 25% to $4,425/t from 2019, according to Wood Mackenzie. ETFs: (NYSEARCA:COPX), (NYSEARCA:CPER), (OTC:JJCTF) Potentially relevant stock tickers include (FCX), (SCCO), (TECK), (BHP), (RIO), (VALE), (AA), (CENX), (KALU), (ERO), (OTCPK:CSCCF), (OTCPK:FQVLF), (OTCPK:GLCNF), (OTCPK:GLNCY), (OTCQX:AAUKF), (OTCQX:NGLOY)","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2459744557"}