[March 09, 2006]

DJ BASE METALS UPDATE: LME Price Fall Seen On Cut In Specs

(Comtex Business Via Thomson Dialog NewsEdge)TOP STORIES:
LONDON, Mar 09, 2006 (Dow Jones Commodities News via Comtex) --Lower LME Prices Imply Reduced Investor Influences - Analyst

Falling base metals prices don't spell the end to the market's bull run but instead imply a reduction in speculative investment influence, analysts at RBC Capital Markets said Thursday.

Russia's Jan Aluminum Exports Outside CIS Up 42.8%

MOSCOW (Dow Jones)--Russia's exported outside the Commonwealth of Independent States 331,500 metric tons of aluminum in January, an increase of 42.8% on January 2005, according to the federal customs service.

Russia Exports 17,700 Tons Refined Copper In Jan, Up On Yr

MOSCOW (Dow Jones)--Russia exported 17,700 metric tons of refined copper in January, compared with 11,600 tons in January 2005, according to the federal customs service Thursday.

Russia's Jan Nickel Export Down 11% On Year

MOSCOW (Dow Jones)-Russia exported 14,700 metric tons of nickel in January, compared with 16,500 tons in the same period a year earlier, according to the federal customs service.

China To Up Copper, Copper Alloy Export Tax To 10% Vs 5%

SHANGHAI (Dow Jones)--China has decided to raise the export tax for copper and copper alloy to 10% of the total contractual value from the current 5% effective April 10, to restrict exports of energy-intensive products, the Ministry of Finance said Thursday.

INDIA PRESS: Russian Cos Eye Indian Aluminum, Steel Indus

NEW DELHI (Dow Jones)--Russian Aluminum (RAL.YY), or RusAl, and OAO Magnitogorsk Iron and Steel Co., or MMK, have zeroed in on India for big-ticket investments in the aluminum and steel sectors, the Financial Express reported Thursday.

Korea Posco Seeks Ways To Fend Off Possible Hostile M&As

SEOUL (Dow Jones)--South Korea's Posco (PKX) is seeking ways to fend off possible hostile takeover attempts, including asking Japan's Nippon Steel Corp. (5401.TO) or local pension and state funds to buy its shares, company officials said.

STORIES OF INTEREST
Eramet: 1H 2006 Nickel Market Outlook "Seems Positive"

LONDON (Dow Jones)--The outlook for the nickel market in the first half of 2006 "seems positive," French metals producer Eramet SA (13175.FR) said Thursday.

Vane Minerals In Uranium Project Deal

LONDON (Dow Jones)--Vane Minerals PLC Thursday announced an agreement regarding additional uranium projects in the Colorado Plateau Uranium District of the U.S., and also provided an update on the Choix copper prospect in Mexico.

Sirius Exploration: Encouraging Results At Macedonian Site

LONDON (Dow Jones)--Sirius Exploration PLC said Thursday results to date at the Kadiica copper prospect, Macedonia have been encouraging.

TAIWAN PRESS:Local Govt Plans Petrochemical, Steel Co Tax

TAIPEI (Dow Jones)--Taiwan's Yunlin County local government plans to levy a special tax on steel mills and petrochemical plants, the Economic Daily News reported Thursday, citing local officials. The paper quoted the officials as saying the tax, which still needs to be approved by the local assembly, is intended to compensate for the potential damage to the environment caused by the heavy industry enterprises.

Hitachi Metals Aims To Up Grp Net Profit To Y26B In FY08

TOKYO (Dow Jones)--Hitachi Metals Ltd. (5486.TO) said Thursday that it aims to boost its group net profit by more than 50% to Y26 billion for the fiscal year ending March 2009, partly through cost cuts.

MARKETS:
LME Midday: Physical Buying Lifts Copper Off Lows

1255 GMT [Dow Jones]--London Metals Exchange copper was bouncing off the lows on physical buying and short covering provided a lift across the metals complex, a trader said Thursday.

China Copper Futures Settle Mostly Up; Strong Cash Values

SHANGHAI (Dow Jones)--Copper futures on the Shanghai Futures Exchange settled mostly higher Thursday on strong cash values, following dips in early trading.

-By Sumera Dean, Dow Jones Newswires; 4420-7842-9259; sumera.dean@dowjones.com; londonstats@dowjones.com

(END) Dow Jones Newswires

03-09-06 1125ET

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