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BASE METALS HIGHLIGHTS: Top Stories Of The Day

10 days ago
SYDNEY (Dow Jones)--Tightness in the copper concentrate market will likely push down 2010 annual smelting fees by about 40% from this year, squeezing smelters' profit margins and indicating ongoing problems with mine supply, traders and analysts said Tuesday.

The National Copper Corporation of Chile, or Codelco, raised its term premium for copper to the Japanese port of Yokohama to $75 a ton in 2010, and to $74 for South Korean buyers, Reuters news agency reported on its Web site Monday, citing unnamed industry sources.

PERTH (Dow Jones)--Rio Tinto Plc (RTP) Chief Executive Tom Albanese said Tuesday the company has had recent contact with China's Chinalco over cooperating on new projects.

PERTH (Dow Jones)--Nippon Steel (NISTY) Chairman Akio Mimura on Tuesday warned that the creation of resources "oligopolies" was a threat to the continued growth of trade between Australia and Japan.

NEW YORK (Dow Jones)--Miners and mining-equipment makers climbed steadily Monday because commodity prices rose in response to a falling dollar as investors looked for ways to hedge against the currency.

LIMA (Dow Jones)--Unions at Peru's Antamina polymetallic mine plan to discuss the latest contract proposal from Antamina during meetings Monday and Tuesday, with strike action a possibility.

NEW YORK (Dow Jones)--Copper futures settled higher Monday as the U.S. dollar weakened and oil prices rose amid a general boost in investor risk appetite.

LONDON (Dow Jones)--Base Metals on the London Metal Exchange continued to rise in lackluster European trading Monday as a weaker dollar against most currencies provided support despite lack of conviction from investors about where prices should head next.

-By Elisabeth Behrmann, Dow Jones Newswires; 61-2-8272-4689 elisabeth.behrmann@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=QfH2r6Cl9SvBxovETZx1rA%3D%3D. You can use this link on the day this article is published and the following day.

 
TOP STORIES: 
 
Copper 2010 Smelting Fees To Drop Sharply; Smelters Struggle 
 
Codelco Ups 2010 Yokohama Copper Premium 16%: Traders - Reuters 
 
STORIES OF INTEREST: 
 
Rio Tinto CEO: Keen To Work On Projects With Chinalco 
 
Japan's Nippon Steel Warns On Resource Oligopolies 
 
Miners, Mining-Equipment Companies Ride Commodity Wave Up 
 
Peru's Antamina Mine Union To Decide On Contract This Week 
 
MARKETS: 
 
BASE METALS: Comex Copper Futures Rise On US Dollar Weakness 
 
BASE METALS: LME Metals Up On Weak Dlr; China Import Data Eyed 


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