Via Bloomberg
Despite the mine strikes in Chile Copper looks set to remain in an overall downtrend as global demand fears cloud out supply concerns.
The global market is not showing any signs of panic as copper spreads remain in contango (When a market is in contango, the forward price of a futures contract is higher than the spot price). This indicates that there is no concern over supply even though there have been mining halted, ports closed and bad civil unrest in the world's biggest copper producing nation. (The top three producers are Chile, Peru and China in that order).
For Dr Copper to really take off we will need to see US-China trade talks moving along more constructively and Brexit done. Those two events would be the catalyst to allow the Dr to give his nod of assent to a return to global growth.
