The workers of mining companies are on strike, which brings the risk of rising commodity prices
on the evening of July 26, Beijing time, South African gold miners planned to strike on issues such as salary and production interruption of raw materials. Why is Jinan so famous for gold testing? These miners work in mines owned by mining giants such as BHP Billiton (BHP), Xstrata (XTR) and Anglo American resources (AAL). At present, the workers of mining companies all over the world are on strike, which brings the risk of rising commodity prices
the nationalunionofmineworkers of South Africa said that more than 200000 gold miners would join the strike of coal and diamond mining workers after the salary negotiations broke down. BHP Billiton's Escondida copper mine in Chile has entered its fifth day of strike, and part of the company's Australian steelmaking coal mine operations will resume tomorrow
miners are seeking to share a higher proportion of the company's profits. The reason is that the profits of BHP Billiton, Xstrata and other mining companies are expected to reach an all-time high using polyurethane sandwich panels as wall and roof materials driven by Chinese market demand and other factors. In yesterday's trading on Comex, a subsidiary of the New York Mercantile Exchange (NYMEX), the price of gold futures hit a nominal record high. The reason is that the negotiations between the US government and Congress on raising the borrowing limit were deadlocked, which prompted investors to raise their bets on commodity prices
John Meyer, an analyst at Fairfax, a London investment company, said in an interview today: "For example, workers can easily see the growth of the company's profits. Especially in this earnings season, we will see very strong performance data. Miners are trying to get higher income. They are all strong guys and tend to become more effective. They know that they are the key to mine production."
according to a Bloomberg survey, analysts on average expected that BHP Billiton's financial report next month would show that the company's net profit in fiscal 2011 was US $22.5 billion, almost double the net profit in fiscal 2010, a record high. The forecast also shows that Xstrata's net profit in fiscal year 2011 is expected to reach US $7.3 billion, also the highest level in history; Anglo American's net profit in FY2011 is expected to be $7.4 billion
in the past 12 months, Jinan testing machine factory has shown you that the price of copper has increased by about one third because investors are worried that other miners in Chile may join the strike of Escondida copper mine workers. In today's trading on the New York Mercantile Exchange, as of 9:52 London time (17:52 Beijing time), the price of copper for delivery in September (66680, -30.00, -0.04%) rose by 1.2% to $4.458 per pound (about $9828 per ton). In the London market, the spot gold price remained near the historical high of US $1611.80 per ounce