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La Escondida Copper Miners Set To Strike, Economic Activity Data Eyed

CHILE
  • 1330BST/0830ET - Chile's June economy activity is expected to have increased 18% y/y, according to economists surveyed by Bloomberg. Activity seen increasing 0.6% m/m, down from 2.6% previously.
  • (Dow Jones) -- The union representing workers at Chile's La Escondida copper mine said its members voted to reject the most recent contract offer from the mine's owner and go on strike, potentially risking disruptions to the supply of a key metal as the world's economy continues to recover from the impact of the coronavirus pandemic.
    • Copper extended gains in London as the mounting risk of supply disruptions offset concerns over a deeper-than-expected slowdown in factory output in top consumer China.

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