LIMA, May 9 (Reuters) - Peru's nationwide mining strike slated to start on May 12 has been postponed for at least two weeks, the head of the country's leading federation of mining unions said on Friday.
"We've suspended it for 15 days," Luis Castillo told Reuters. "On Monday, we'll meet with the prime minister and Congressional representatives."
The government had feverishly been trying to persuade the unions to call off the strike, which would have started days before dozens of heads of state arrive in Lima for a summit between European and Latin American leaders.
(Reporting by Teresa Cespedes and Marco Aquino; Writing by Terry Wade; Editing by Marguerita Choy)
((terry.wade@reuters.com; +51 1 221 2130; Reuters Messaging: terry.wade.reuters.com@reuters.net)) Keywords: METALS PERU/STRIKE
NEW YORK, May 9 (Reuters) - U.S. copper futures finished sharply lower on Friday, sliding to a nine-day low after a surge in London Metal Exchange and weekly Shanghai Exchange warehouse stocks spooked investors, many of whom had already begun exiting positions this week, traders said.
NOTE: For detailed report, click on [MET/L].
* Copper for July delivery <HGN8> ended with losses of 7.10 cent at $3.7165 a lb on the COMEX metals division of the New York Mercantile Exchange.
* July futures slid to a 9-day low at $3.6775 a lb, leaving support at the May 1 low of $3.6675 a lb intact.
* London Metal Exchange copper warehouse stocks surged 11,150 tonnes on Friday to 121,275 tonnes. COMEX warehouse copper stocks stood even at 10,827 short tons on Thursday.
* Shanghai Futures Exchange copper inventories jumped 10 percent to 51,119 tonnes in the week to Thursday.
* Talk circulated the Shanghai market that South Korean LME warehouses would also soon see around 10,000 tonnes of copper deliveries from China.
* Analysts said much of the material causing the stock surge came from China, and is often followed by additional rises in copper stocks.
* Traders said Chinese buyers have been absent from the market of late.
* Some players were already in the process this week of unwinding long copper positions hastily taken out in Monday's unusual spike up to the $4.2605 a lb record high.
* A breach of July copper's March low at $3.6070 per lb would open up the downside to a much steeper decline.
* COMEX estimated final copper volume at 16,299 lots compared with Thursday's total volume of 14,749 lots.
* Open interest was down 783 lots at 98,360 contracts as of May 8.
* LME copper for delivery in three months <MCU3> finished Friday at $8,100 per tonne, down from $8,300 per tonne on Thursday.
(Reporting by Carole Vaporean; Editing by David Gregorio) ((carole.vaporean@reuters.com; 1-646-223-6044; Reuters Messaging: carole.vaporean.reuters.com@reuters.net; nyc.commods.newsroom@reuters.com))
For the latest news and prices, click on the codes in brackets:
LME overview <RING>
LME Warehouse stocks <LME/STX1>
Spot gold/silver <XAU=><XAG=>
COMEX copper futures <0#HG:>
COMEX metals warehouse stocks <CMWST>-<CMWSV>
N.Y. metals hourly volumes <IZQI>
Vols/open interest <MTXM>
RELATED NEWS AND OTHER TOPICS Precious metals news [GOL] All metals news [MTL] All commodities news [C] Metals diary [MTL/DIARY] Ldn Bullion Mkt Assoc <LBMA01> Foreign exchange rates <FX=S> Keywords: MARKETS COPPER/COMEX
LIMA, May 9 (Reuters) - Peru posted a trade surplus for March of $565 million, the central bank said on Friday, lower than a $690 million surplus posted in the same month a year ago.
Peru's trade surplus in the first three months of this year was $1.47 billion, higher than $1.53 billion in the same period last year.
(Reporting by Teresa Cespedes; Editing by Chizu Nomiyama)
((dana.ford@thomsonreuters.com; Tel. + 511 221 2130)) Keywords: PERU ECONOMY/TRADE
NEW YORK, May 9 (Reuters) - U.S. copper futures tumbled to a 9-day low on Friday after a huge addition to London Metal Exchange warehouse stocks and a jump in weekly Shanghai Exchange inventories spooked many investors, traders said.
NOTE: For detailed report, click on [MET/L].
* Copper for July delivery <HGN8> slid 8.50 cents, or 2.24 percent, to $3.7025 a lb on the COMEX metals division of the New York Mercantile Exchange.
* July futures slid to a 9-day low at $3.69 a lb, but support at the $3.6675 a lb recent bottom remained intact.
* London Metal Exchange copper warehouse stocks surged 11,150 tonnes on Friday to 121,275 tonnes. COMEX warehouse copper stocks stood even at 10,827 short tons on Thursday.
* Shanghai Futures Exchange copper inventories jumped 10 percent to 51,119 tonnes in the week to Thursday.
* Talk circulated in Shanghai market that South Korean LME warehouses would also soon see around 10,000 tonnes of copper deliveries from China.
* Analysts said much of the material causing the stock surge came from China, and is often followed by more copper.
* Some players were in the process all week of unwinding long copper positions hastily taken out in Monday's unusual spike up to the $4.2605 a lb record high.
* A breach of July's March low at $3.6070 per lb would open up the downside to a much steeper decline. The low hit on May 1 at $3.6675 a lb serves as nearer support.
* COMEX estimated 9 a.m. EDT (1300 GMT) copper volume came to 6,331 lots compared with Wednesday's total volume of 15,066 lots.
* Open interest was down 291 lots at 99,143 contracts as of May 8.
* LME copper for delivery in three months <MCU3> slides to $8,180 per tonne after closing lower at $8,300 per tonne on Thursday.
(Reporting by Carole Vaporean, editing by Matthew Lewis) ((carole.vaporean@reuters.com; + 1 646-223-6044; Reuters Messaging: carole.vaporean.reuters.com@reuters.net; nyc.commods.newsroom@reuters.com))
For the latest news and prices, click on the codes in brackets:
LME overview <RING>
LME Warehouse stocks <LME/STX1>
Spot gold/silver <XAU=><XAG=>
COMEX copper futures <0#HG:>
COMEX metals warehouse stocks <CMWST>-<CMWSV>
N.Y. metals hourly volumes <IZQI>
Vols/open interest <MTXM>
RELATED NEWS AND OTHER TOPICS Precious metals news [GOL] All metals news [MTL] All commodities news [C] Metals diary [MTL/DIARY] Ldn Bullion Mkt Assoc <LBMA01> Foreign exchange rates <FX=S> Keywords: MARKETS COPPER/COMEX
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