"I'm a little skeptical…in the short-term," Oscar Landerretche said a mining conference in Chilean capital Santiago. "It's true that all of the fundamentals are good in the medium- and long-term…but I would be very cautious."

http://www.mining.com/copper-price-hits-fresh-3-year-high-output-worlds-top-producer-falls/

Meanwhile, the spot price is negative today.