02062016Sat
Last update: Sat, 06 Feb 2016 06pm

Americas

Markets - Commodities - Americas

Workers strike at BHP Billiton's Chile-based Cerro Colorado copper mine SANTIAGO: Unionized workers at global miner BHP Billiton's Cerro Colorado copper mine in Chile went on strike on Monday after contract negotiations failed, union director Gustavo Tapia told Reuters. Workers "abandoned the mine, and the strike became effective as of 8 in the morning (1100 GMT)", said Tapia. The relatively small Cerro Colorado mine produced 55,600 tonnes of copper from January to September 2015, according to Chilean state copper commission Cochilco. "It's too premature to make a precise analysis but considering unionization rates (at the mine) of around 100 percent, it's unlikely there will be production," said Tapia. The union, which represents nearly 700 workers at Cerro Colorado, rejected the company's last proposal of a real wage increase of 1 percent. BHP Billiton was not immediately available to comment. Copyright Reuters, 2016 ...

Markets - Commodities - Americas

World coffee exports ease so far in 2015/16, robusta tumbles NEW YORK: World coffee exports inched down in the first two months of the 2015/16 crop year while robusta exports dropped more than 7 percent in the past 12 months, International Coffee Organization (ICO) data showed on Friday. Global exports of coffee fell to 17.2 million 60-kg bags in October and November, the first two months of the 2015/16 crop year, down 0.8 percent from the first two months of last year. In November alone, ...

Markets - Commodities - Americas

US gold jewelry imports reach 7-year high in October NEW YORK: US imports of gold jewelry rose to a seven-year high in October while platinum jewelry imports surged by more than 60 percent after precious metal prices fell to multiyear lows, Thomson Reuters GFMS calculations showed."The United States continued to import large volumes of gold jewelry in October," Erica Rannestad, senior analyst of precious metals demand at GFMS, said in an email late on Wednesday."Gold prices averaged 25 percent lower that month than a ...

Markets - Commodities - Americas

Sugar ignores weak markets, rallies on white supply concerns NEW YORK/LONDON: Sugar futures on ICE bucked a weak trend in commodities to surge more than 3 percent on Thursday, buoyed by concerns about tight nearby supplies for white sugar, which jumped to a 14-month high.Cocoa prices dove to extend this week's steep losses to multi-month lows, while coffee futures also dropped every day of this week. They were part of a commodity slump following a rout in Chinese shares that dragged down world equity ...

Markets - Commodities - Americas

Corn approaches seven-month low on poor exports, big supply CHICAGO: US corn futures neared a seven-month low on Thursday on concerns about poor export demand and large world supplies.Soybean futures also traded mostly lower, while wheat futures jumped on technical buying.Corn traders focused on exports and stockpiles before the release next week of U.S. Department of Agriculture data. Analysts are expecting the USDA will raise its outlook for corn supplies in a monthly supply and demand report.The USDA reported on Thursday that export sales ...

Markets - Commodities - Americas

NY sugar may fall to 14.20 cents SINGAPORE: New York March sugar may fall to 14.20 cents per lb, as it has cleared a support at 14.44 cents.The support was provided by the 61.8 percent Fibonacci level of a downward wave C, the third wave of a three-wave cycle from the Dec. 4, 2015 high of 15.85 cents. This wave could travel to 13.82 cents, the 100 percent level.The next support will be at 14.20 cents, the 76.4 percent level, a break ...

Markets - Commodities - Americas

NY coffee may fall more to $1.1870 SINGAPORE: New York March coffee may fall more to $1.1870 per lb, as it has cleared a support at $1.1985.The support was provided by the 23.6 percent Fibonacci projection level of a downward wave C, the third wave of a three-wave cycle from the Nov. 13 low of $1.1530.The next support will be at $1.1870, the 14.6 percent level, a break below which could lead to a further loss to the Dec. 21, 2015 low ...