Monday, May 7, 2007

Copper Drops, Ending Six-Session Rally, as National Strike in Peru Ends

(Bloomberg) -- Copper dropped in New York, halting a six-session rally, after a mining strike ended in Peru, the world's third-largest producer of the metal.

Miners ended a five-day national walkout on May 4 after accepting government proposals to raise pensions and grant rights to subcontracted workers. Copper, used in pipes and wires, rose to an 11-month high last week on concern the strike would disrupt global supplies.


Read more at Bloomberg Commodities News

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