Nickel futures fell 3 percent in early business at the London Metal Exchange on Thursday after a deal to stop a potential strike at the Sudbury, Ontario operations of miner Xstrata.
Three-months futures traded as low as $35,900 per tonne, down $1,200 from its previous closing price, before rebounding to $36,650 by the end of the official session.
Read More at Reuters South Africa
Showing posts with label Sudbury. Show all posts
Showing posts with label Sudbury. Show all posts
Thursday, February 1, 2007
Nickel drops on Sudbury labour deal
Nickel futures fell 3 percent in early business at the London Metal Exchange on Thursday after a deal to stop a potential strike at the Sudbury, Ontario operations of miner Xstrata
The Anglo-Swiss mining firm and the union representing around 1,000 workers reached tentative agreement on a new contract late on Wednesday, narrowly avoiding a strike which would have further tightened supply of the metal.
Three-months futures traded as low as $35,900 per tonne, down $1,200 from its previous closing price, before rebounding to $36,525/36,675 by 1130 GMT.
Read more at Reuters South Africa
The Anglo-Swiss mining firm and the union representing around 1,000 workers reached tentative agreement on a new contract late on Wednesday, narrowly avoiding a strike which would have further tightened supply of the metal.
Three-months futures traded as low as $35,900 per tonne, down $1,200 from its previous closing price, before rebounding to $36,525/36,675 by 1130 GMT.
Read more at Reuters South Africa
Subscribe to:
Posts (Atom)
