MANILA, March 13 London copper futures rose for
a second straight session on Monday, propped up by a firmer euro
and supply disruption concerns following an indefinite workers'
strike at Peru's top copper miner.
* Three-month copper on the London Metal Exchange
was up 0.7 percent at $5,769 a tonne by 0124 GMT. The metal lost
3.1 percent last week, the most since December.
* Copper was among a slew of commodities that posted their
biggest weekly decline in months last week after recent rallies
showed signs of petering out, pressured by a glut and tepid
demand from top consumer China.
* The Thomson Reuters CRB index, a measure of 19
commodities, fell 3.7 percent last week, its worst showing since
January last year.
* The most-traded copper on the Shanghai Futures Exchange
gained 1.1 percent to 47,090 yuan ($6,820) a tonne.
* Workers at Freeport-McMoRan's Cerro Verde
started an indefinite strike on Friday that halted output of
about 40,000 tonnes per month at Peru's top copper mine.
* The striking union at BHP Billiton's Escondida
copper mine in Chile, the world's largest, said on Saturday it
will not accept the company's offer to return to the negotiating
table, and called on BHP to clarify its negotiating positions.
* Indonesian state miner PT Aneka Tambang Tbk will
apply next week for a permit to export 6 million tonnes of
nickel ore for a year.
* Speculators cut their bullish position by 13,511 lots to
57,149 lots in copper, data from U.S. Commodity Futures Trading
Commission data showed, bringing it to the lowest level since
* U.S. employers hired workers at a robust pace of 235,000
in February, beating expectations, which could give the Federal
Reserve the green light to raise interest rates this week
despite slowing economic growth.
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* The euro edged up near a one-month high against the dollar
in Asian trading, after some European Central Bank policymakers
raised the possibility of hiking interest rates before bond
* Asian shares started the week on a cautious note as the
strong U.S. jobs data cemented expectations of a hike in U.S.
interest rates, and as oil prices plunged to 3 1/2-month lows on
fresh worries of oversupply.
DATA AHEAD (GMT)
1400 U.S. Employment trends Feb
Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
($1 = 6.9050 Chinese yuan)
(Reporting by Manolo Serapio Jr.; Editing by Kenneth Maxwell)