Copper prices on the Shanghai Futures Exchange strengthened during Asian morning trading on Tuesday, after a further cooling in trade tensions between the United States and China led to increased buying interest among investors.
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Codelco’s Chuquicamata division has reached an agreement with its supervisors’ union for a new labor contract, the Chilean copper producer announced on Monday.
Stefan Boel, executive board member at Aurubis, will leave the German copper smelter-manufacturer on July 31.
A wave of labor negotiations at several of the world’s leading copper mines is taking place this year and could have a significant impact to the global copper supply and prices.
Sanctions levied by the US Department of the Treasury last week against UC Rusal are expected to change the flow of aluminium supply in the US, as buyers and sellers are grappling with what the absence of Russian supply will mean for the market.
Chinese tungsten concentrate prices came under pressure last week because of weak buying interest, with exporters of ammonium paratungstate and ferro-tungsten adjusting their offers downward.