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CHILE: Hacienda to Sell Local Bonds, Lundin Workers Extend Strike

CHILE
  • Despite mining giant BHP's quick fix to a recent six-day strike at its Escondida copper mine, there remains uncertainty within the sector as workers at Lundin Mining's Caserones copper mine have vowed to extend their strike action if the company fails to negotiate a settlement with their union, Reuters reported Monday. The BHP wage deal appears to have set the tone for upcoming negotiations elsewhere, with workers emboldened by high copper prices to push for a larger share of the profits.
  • USDCLP had an impressive sell-off on Monday, breaking below key support at 929.78, the Aug 1 low and extending the move to close around 923.50. The clear break of this level signals scope for a deeper retracement towards 902.00, the Jul 11 low.
  • Hacienda are scheduled to sell 2027, 2050 peso bonds and 2030, 2055 CPI-linked bonds. Issuance details are here: 

 

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