Copper price gains as world’s biggest mine preps for strike

The Swiss miner and commodities trader Glencore said its solid finances will let it to pursue more acquisitions if opportunities arise.

Company said rising potash and phosphate prices boosted net sales.

Base metals should continue to do well in 2018 along with the US steel industry, though American coal will continue to lose ground to natural gas. 

Some U.S. lawmakers and steel and aluminum users have urged caution in any restrictions to avoid disruptions or price spikes in the raw materials.

Output of the steelmaking material reached 366.5 million tonnes last year, boosted by record high productionat Vale's northern system, which composed of its Carajás, Serra Leste and the massive S11D mine.

As part of Gemfields' philosophy of “total transparency”, the company revealed is facing claims of human rights abuses in Mozambique, where it mines rubies.

Coal mines that fail to meet safety measures or operational standards will be ordered to close and rectify violations, the State Administration of Work Safety said.

Spot gold has declined about 1 percent so far this week and was headed for a second straight weekly drop due to a recovery in the dollar.

Chinese traders chase copper concentrate and iron ore cargoes lifting January import volumes 25% and 19% over already record-breaking 2017.