International Metallurgical Industry News

After 20 years of unresolved crux, Shougang Peru has been caught in labor disputes again. Workers have been on strike for a long time and demanded a salary increase, which has become a drama that China Shougang Group (hereinafter referred to as "Shougang") Peru iron ore plays every year. In the words of a middle-level executive in Shougang, this is like an endless "disaster movie". More than 1,000 workers participated in the strike this time, and it has been 20 days today. Iron ore workers at Shougang Hierro Peru SHP.LM, a unit of China's Shougang Group, started an indefinite strike in mid-August, demanding higher wages and better working conditions, Reuters reported on September 3. The strike at Shougang Hierro Peru continues as negotiations between the company and union workers broke down. Countless strikes over the past 20 years have plunged Shougang Group into labor disputes, and the stumbling block to the operation of overseas mining companies has not been removed. A middle-level employee of Shougang said privately: "This matter is not news anymore. There are strikes several times every year, but it has never been completely resolved." Shougang Hierro Peru brought a considerable economic loss. Shougang did not respond to the possible economic losses caused by the strike and the actions to be taken. Thousands of workers strike again This round of strikes involved about 1,078 workers. What they want to fight for is an increase of 15 sols ($5.3) in daily wages. Union leader Julio Ortiz said last week that the union had obtained permission to strike from the labor ministry and that workers were negotiating with the Peruvian Ministry of Labor, not the company, to resolve the dispute, with no dialogue with Shougang Peru. Last week, Shougang Peru only agreed to raise daily wages by 2.8 sols, and the strike is still going on. In the process of the game between the two sides, the operation of the mine has been paralyzed. This is not the first time that Shougang Peru has faced labor disputes, and even the middle management of Shougang can not remember how many collective strikes the Peruvian company has encountered. The endless challenges have made Shougang struggling to deal with it. When will the crux of these more than 20 years be solved, it is a difficult problem in front of us... The price of base metal futures on the London Metal Exchange was mixed on the 5th Xinhuanet London September On the 5th (Reporter Wang Yahong) The prices of base metal futures on the London Metal Exchange (LME) were mixed on the 5th, with the largest increase in tin and the most obvious decline in the price of lead. U.S. private employment increased by 176,000 in August, slightly less than expected, but the market believes that this will not affect the Fed's plan to reduce bond purchases later this month. Workers at the El Salvador copper mines owned by the world's largest copper producer, National Copper Corp., plan to go on strike from Thursday, after unions said contract talks with employers had broken down. At the close on the 5th, the unofficial settlement price of 3-month copper futures was US$7,108 per ton, down US$15 or 0.2% from the previous trading day. On the 5th, LME aluminum inventories increased by 5,650 tons to 5,381,000 tons. At the close of the day, the unofficial settlement price of three-month aluminum was US$1,797 per ton, up US$7, or 0.4%, from the previous trading day. In addition, at the close on the 5th, the unofficial settlement price of 3-month tin was US$22,050 per ton, up US$180 or 0.8% from the previous trading day. The unofficial settlement price of three-month zinc was $1,869 per ton, down $5, or 0.3%, from the previous day. The unofficial settlement price of 3-month lead was US$2,124 per ton, down US$18, or 0.8%, from the previous trading day. The unofficial settlement price of 3-month nickel was US$13,725 per ton, up US$46, or 0.3%, from the previous trading day. Indonesia suspends tin ingot exports to stimulate tin prices. According to reports, Indonesia's state-owned tin industry group company, also the country's largest tin exporter, PT Timah, said on September 4 that due to force majeure, the company will stop tin from August 30. Export. Previously, as the world's largest tin exporter, 30 tin producers in Indonesia have stopped exporting for the same reason. The force majeure factor referred to by PT Timah means that since August 30, Indonesia has required the country's tin producers to complete transactions on local exchanges before exporting tin ingots. The only Indonesian exchange that can trade tin futures contracts is the Indonesia Commodity and Derivatives Exchange (ICDX), which began trading five tin futures contracts on August 30. Currently only 5 tin producers including PT Timah are trading here as members. PT Timah said that if its customers want to buy tin ingots, they need to first become a member of ICDX or buy through a member of ICDX. More than 30 other producers registered with the Jakarta Futures Exchange had to stop tin shipments because the exchange had not yet been approved to trade tin futures contracts. International tin prices rose on news that Indonesia's major tin producers had suspended exports. As of 19:00 Beijing time on September 5, tin futures on the London Metal Exchange rose 1.9% to $22,250 per ton. In the four consecutive trading days that have risen since August 30, LME tin futures have risen by more than 6%, approaching a five-month high since April 11.