Copper near 2-week low on mine wage talks and China rate hike

London

COPPER prices slid to their lowest in nearly two weeks on Friday after workers restarted wage talks at the biggest copper mine and China increased its interest rates, sparking concern about a clampdown on speculators.

Workers at BHP Billiton's Escondida copper mine in Chile, the world's biggest, prepared to re-enter dialogue with the company on Friday after BHP solicited government mediation in a bid to avoid a strike. Copper hit a two-month peak earlier in the week when workers rejected a company wage offer and voted for a strike.