It appears that the 170,000 metal industry workers in Austria are preparing to take strike action over pay issues, with union officials stating that they will be holding summits at the beginning of next week to decide upon a course of action.
Polymetal to be Listed on Stock Exchange
Polymetal, the Russian producer of gold and silver metals which is believed to be worth about £3.5 billion, have announced that they are set to be listed on the London Stock Exchange, which investors are already predicting will skew the FTSE 100 further towards miners and a host of other emerging markets.
Copper Futures Fall to 14 Month Low
Copper futures have fallen for the fifth consecutive session on Tuesday, resulting in the metal falling to a 14 month low. The drop shows that investors are anticipating that the faltering state of the economy is likely to affect the demand for industrial metals.
Finnish Metal Industry Warns of Strike
A pair of Finnish unions warned on Tuesday that workers in the country’s metal industry would be prepared to strike over an array of issues they have recently been facing. The two unions issues a strike notice and an overtime ban that covered 44 member companies of the key Federation of Technology Industries.
Tin Prices Increase by 5%
Tin prices have increased by about 5% after Indonesian tin producers decided that they were going to halt exports, only resuming shipment when global prices have rebounded. This has created less product for demand, leading to the slight rebound after the metal’s price tumbled in recent months.
Serbian Metal Workers Turn to Government
A number of people are beginning to express concerns over the state of the Serbian metal industry, with some going as far as to say that the industry is practically non-existent in Novi Sad and other areas.
Russian Metal Industry Continuing Recovery
The Russian metal industry is continuing it’s recovery, thanks in part to slight recovery in the global economy combining with increasing metal prices and more cost competitiveness amongst different companies.
Ministers Attend Industry Meeting
Ministers have announced that they will be attending a meeting in which they will look to overhaul the current rules in relation to scrap metal merchants in an effort to quell the epidemic of cable and other metal thefts.
London Announces Clearing Executive
The London Metal Exchange has announced that it has hired a top industry executive who will help push the company towards clearing. The company has also claimed to have received a range of third party proposals despite having no clear future goal in relation to its clearing business.
China Tightens Grip on Rare Earths Market
China have sent the price of fluorescent lightbulbs and other products that use rare metals through the roof after placing restrictions on the sale of the metals in an attempt to combat pollution caused by the mining process.