SM:Commodities daily update: precious metals, base metals, crude oil
- Workers at Freeport McMoRan Copper & Gold's Grasberg mine in Indonesia plan to stage a strike in coming days after talks with the company failed to resolve a pay dispute, a move that could tighten global copper supplies and lift prices.
- Western world unwrought aluminium stocks rose to 1.563 million tonnes in July compared with a revised 1.472 million in June, industry data showed on Friday.
- Unwrought stocks stood at 1.268 million tonnes in July 2010, provisional data from International Aluminium Institute (IAI) figures showed.
- The Libyan rebel government hopes to restart oil exports within two to three months and reach full volumes in about a year, Ali Tarhouni, the official in charge of financial and oil matters told Reuters from Libya's oil ministry in Tripoli.
- The CME Group, the world's largest commodities exchange, lowered its margin requirement on trading U.S. crude oil futures by 4 percent on Thursday, the first reduction this year, amid a steep drop in prices since the start of August.
