BASE METALS HIGHLIGHTS: Top Stories Of The Day
TOP STORIES:
WSJ: China Cuts Rare-Earths Export Quota, Divvies Up Metals
BEIJING -( Dow Jones)- China unveiled an initial cut of 27% in its quota for rare-earth exports for next year, but said its full-year 2012 limits for the key materials used to make everything from defense systems to turbines to iPhones would likely be unchanged amid weakened demand.
STORIES OF INTEREST:
UPDATE: China Lowers 2012 1st Batch Export Quotas For Silver, Some Minor Metals
SHANGHAI (Dow Jones)--China Tuesday announced the first batch of 2012 export quotas for minor metals and silver, lowering the quotas for silver, ammonium meta-tungstate, tungsten trioxide, antimony ingots, tin and its products, indium and its products, and molybdenum products.
UPDATE: Icahn To Drop Commercial Metals Fight If Tender Fails
NEW YORK -(Dow Jones)- Billionaire investor Carl Icahn said he plans to abandon his minority stake in scrap-metal processor Commercial Metals Co. (CMC) if his tender offer to acquire the company is unsuccessful.
MARKETS:
BASE METALS: Comex Copper Rally Fades In Low Volume
NEW YORK (Dow Jones)--Copper's four-session rally fizzled in low trading volume on Tuesday, as investors locked in profits on the metal's gains after a set of mixed readings on the health of U.S. manufacturing sector.
BASE METALS: Shanghai Copper Drifts Lower In Thin Trade
SHANGHAI (Dow Jones)--Copper on the Shanghai Futures Exchange drifted lower in rangebound trade Tuesday, as investors were reluctant to take fresh positions in holiday-thinned trade. By Matt Day, Dow Jones Newswires; 212-416-4986; matt.day@dowjones.com |
