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Workers at the Richards Bay Coal Terminal in South Africa rejected the latest wage offer and will continue striking. The union lowered its demand to a one-year 7% raise plus a housing allowance, while the company offered at least 6% annually for three years.
Volumes at the terminal have fallen to the lowest level since 1992.
The strike concerns coal exports, not feed commodities, so the direct effect on feed prices is minimal. It does reflect ongoing South African port and rail weakness that can affect bulk grain logistics through the region.
mining.comSep 29, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 823 past logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.5% to +1.2%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
