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BASE METALS HIGHLIGHTS: Top Stories Of The Day

85 days ago
TOP STORIES:

SANTIAGO (Dow Jones)--Corporacion Nacional del Cobre de Chile's sales to China won't fall due to a jump in 2010 copper premiums for Chinese buyers, the mining company's chief executive said on Monday.

KAMPALA, Uganda (Dow Jones)--Workers with Zambia's largest copper miner, Konkola Copper Mines, have ended strike action over a wage dispute and labor talks are expected to resume this week, a union official told Dow Jones Newswires Monday.

SHANGHAI (Dow Jones)--National Copper Corporation of Chile, or Codelco, has set its 2010 term copper premium for Chinese buyers at $85 a metric ton, a person familiar with the matter said Monday.

SYDNEY (Dow Jones)--Zinc concentrate stocks at the port of Karumba in Australia will run out within the next two days, a spokeswoman for China's Minerals and Metals Group, or MMG, said Monday.

STORIES OF INTEREST:

SANTIAGO (Dow Jones)--As the labor strike at Chilean copper mine Spence entered its 35th day, the 560-member union said it has lowered its wage and benefits demands in the hopes of restarting negotiations.

MOSCOW (Dow Jones)—Kazakhstan exported 95,500 metric tons of alumina in the first nine months of the year, an increase of 24.3% compared with January-September 2008, the state statistics agency said Monday.

MOSCOW (Dow Jones)--Kazakhstan produced in January-October 292,466 metric tons of refined copper, a fall of 11.4% compared with January-October 2008, the state statistics agency reported Monday.

HONG KONG (Dow Jones)--Zijin Mining Group Co. (2899.HK), a Chinese gold and copper miner, said Monday it plans to acquire an additional 37.5% stake in a Chinese base metal miner and processor for CNY105 million.

MARKETS:

NEW YORK (Dow Jones)--Copper futures broke out of range-bound trading Monday and surged to their highest point since September 2008, helped by a weaker U.S. dollar, muscular economic data from Asia and stronger-than-expected U.S. monthly retail sales.

LONDON (Dow Jones)--Copper on the London Metal Exchange shot to a new high for the year, the highest its been since September last year, spurred by risk appetite and investors buying the metal to counter U.S. dollar weakness.

-By Matt Whittaker, Dow Jones Newswires; 212-416-2139; matt.whittaker@dowjones.com

(END) Dow Jones Newswires

November 16, 2009 15:56 ET (20:56 GMT)
 
Chile's Codelco CEO: Higher China Premiums Won't Cut Sales 
Zambia KCM Workers End Strike; Labor Talks Resume This Week -Union 
Codelco Sets 2010 Copper Premium For China Buyers At $85/Ton 
MMG: Karumba Zinc Concentrate Stocks To Run Out In Next 2 Days 
Chile Spence Union Lowers Demands as Strike Drags Into Day 35 
Kazakhstan Jan-Sep Alumina, Copper Exports Rise 
Kazakhstan Jan-Oct Alumina Output Up, Zinc, Copper, Down 
Zijin Mining To Acquire 37.5% Of Base Metal Miner For CNY105M 
BASE METALS: NY Copper Rallies On Lower Dollar, Economic Data 
BASE METALS: LME Copper Surges To New 2009 High, Rest Follow 


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