Samsung Electronics' largest union in South Korea warned that chip production could be disrupted if members approve the plan in a strike vote in May. As the world's largest memory chip maker, a strike at Samsung could exacerbate global semiconductor supply bottlenecks. Choi Seung-ho, chairman of the Samsung Electronics Labor Union (SELU), said at the launch of the vote last week: "I expect there will be production disruptions." The vote will continue through Wednesday. Choi Seung-ho said that if labor and management fail to reach an agreement, the union is expected to hold an 18-day strike starting May 21, which could affect about half of the production at the massive semiconductor complex in Pyeongtaek, south of Seoul. The Samsung union is demanding a 7% raise in base pay, the removal of the performance-based compensation cap, currently set at 50% of annual base salary, and the introduction of a bonus pool based on operating profit.

[SMM Tin Morning Briefing: The Most-Traded SHFE Tin Contract Opened Slightly Higher in the Night Session and Hovered at Highs, While Downstream Enterprises Showed Relatively Strong Purchase Willingness]

March 13 (Reuters) - Gold was on track for a second straight weekly loss, even as it edged higher on Friday, as surging oil prices dampened rate cut bets and caused investors to cover margin calls, while a rising dollar and U.S. yields also pressured prices.

SMM Morning Meeting Summary: Overnight, LME copper opened at $12,751/mt and dipped to $12,743/mt at the start of the session. Thereafter, the center of copper prices gradually moved higher and, near the close, touched a high of $12,940/mt, before finally closing at $12,918.5/mt, up 1.44. Trading volume reached 19,700 lots, and open interest stood at 302,000 lots, down 5,166 lots from the previous trading day, mainly due to bears reducing positions. Overnight, the most-traded SHFE copper 2604 contract opened at 100,020 yuan/mt and hit a low of 99,820 yuan/mt at the start of the session. It then fluctuated upward to 100,420 yuan/mt, followed by wide swings, and finally closed at 100,190 yuan/mt, up 0.58. Trading volume reached 274,000 lots, and open interest stood at 190,000 lots, down 3,315 lots from the previous trading day, mainly due to bears reducing positions.

The Australian Workers' Union (AWU) stated that workers at a copper refinery in North Queensland are planning to go on strike due to nearly a year of unsuccessful negotiations with Glencore over pay and working conditions. The union said that if the labor negotiations scheduled for Thursday still fail to address workers' demands, employees at the Townsville refinery will begin striking from Friday.

Workers at Glencore’s Townsville copper refinery in Queensland are planning a strike after nearly a year of unsuccessful wage negotiations. The industrial action could disrupt refinery operations and affect copper supply chains. Analysts say labor disputes add further uncertainty to the global copper market.

Coal prices rallied to $138 per ton in early March 2026, a 15-month high, following an Iranian drone strike on Qatar's main LNG export hub. The rare shutdown of 20% of global LNG supply has forced Asian economies, including Taiwan, to switch to coal-fired power generation, tightening the global thermal coal market.

SMM Nickel, March 12: Macro and Market News: (1) US February CPI rose 2.4% year on year, and core CPI rose 2.5% year on year, in line with market expectations. (2) Trump said Iran had "nothing left to strike," and the war would end soon. The Iranian president proposed three necessary conditions for ending the war: recognizing Iran's legitimate rights, paying war reparations, and providing firm guarantees from the international community to prevent future acts of aggression. Spot Market: On March 12, the SMM price of #1 refined nickel rose by 1,200 yuan/mt from the previous trading day. In terms of spot premiums, the average price of Jinchuan #1 refined nickel was 6,750 yuan/mt, up 100 yuan/mt from the previous trading day; China mainstream brands of electrodeposited nickel were at -300-400 yuan/mt. Futures Market: The most-traded SHFE nickel contract (2605) surged in the night session, but fell sharply during the morning session, closing the morning session at 137,400 yuan/mt, up 0.08%. On the macro front, there were signs that the risk-off sentiment stemming from geopolitical conflicts in the Middle East was easing in the short term. Supply side, the core driver remained Indonesia's unchanged policy of tightening nickel ore supply. In the short term, the price of the most-traded SHFE nickel contract is expected to move sideways in the 130,000-140,000 yuan/mt range.

SMM March 13: This week, China’s domestic tungsten market exhibited high-level oscillations with intensified supply-demand competition. Multiple mines put products up for auction during the week, but transactions were bleak.As of March 13, tungsten prices remained largely stable, yet market sentiment became extremely divided.

Gold surged during the 12-day war with Iran last year and then gave up its gains when a ceasefire was announced. But, two weeks into the latest conflict, its price remains largely unmoved.