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To: Spark who wrote (1)12/30/2011 1:14:03 AM
From: Max Power  Respond to of 8
 
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