[August 25, 2006]

DJ BASE METALS UPDATE:Less Than 20 Escondida Strikers Return

(Comtex Finance Via Thomson Dialog NewsEdge) TOP STORIES:

Less Than 20 Chile Escondida Strikers Back At Work - Union
SANTIAGO, Aug 25, 2006 (Dow Jones Commodities News via Comtex) --Less than 20 of the striking workers at Chilean copper mine Escondida have abandoned the strike, negotiated contracts individually and returned to work, a union source said Thursday.

BHP: Copper Smelters Must Adjust To New Mkt Conditions
SYDNEY (Dow Jones)--The world's biggest miner BHP Billiton (BHP) said Friday copper smelters need to make "strategic adjustments" if less favorable commercial terms for processing the metal restrict their profitability.

Japan July Aluminum Products Shipments Down 0.7% On Year
SINGAPORE (Dow Jones)--Japan's July shipments of aluminum sheet and extrusion products declined 0.7% on year, according to data issued by the Japan Aluminum Association Friday.

China Jul Copper Concentrate Imports -20.6% At 276,300 MT
SHANGHAI (Dow Jones)--China's copper concentrate imports in July fell 20.6% on year to 276,300 metric tons, the General Administration of Customs said Friday.

BHP Says Chance Key Commodity Prices Will Spike Higher
SYDNEY (Dow Jones)--BHP Billiton (BHP) chief executive Chip Goodyear said Friday there is a chance nickel and copper prices could spike higher.

STORIES OF INTEREST:

Japanese Bank To Invest In Ghana Smelter - Govt Officials
ACCRA, Ghana (Dow Jones)--The Japan Bank for International Cooperation has expressed interest in investing in Ghana's aluminum smelter, Volta Aluminium Company, or Valco, with the hope of expanding its capacity and making it a major player in Africa, government officials confirmed.

Mexican Union Rep Threatens Strike Over Ousted Union Head
MEXICO CITY (AP)--The leader of a hard-line faction of the Mexican mine workers' union warned Thursday that more strikes would be called unless the government recognizes an ousted union leader.

FOCUS: US Home Data Prompts Concern About Copper Demand
Softer housing and durable-goods data the last two days hint at a possible reduction in U.S. copper demand going forward, although the price of the metal has nevertheless held up relatively well due to ongoing labor issues, tight global supplies and the fact that the economy is still growing, albeit more slowly, analysts say.

UPDATE: Chile Escondida Output Around 40%-60%; No Talks
SANTIAGO (Dow Jones)--BHP Billiton PLC's (BHP) Escondida mine is producing at around 40%-60%, a company spokeswoman said, as the strike at the world's biggest copper mine entered its 18th day.

FOCUS: Congo's Mines Unaffected By Tension In Capital
LONDON (Dow Jones)--Mining companies' operations continued unhindered in the Democratic Republic of Congo's mineral-rich southern province of Katanga despite the fierce fighting that broke out this week in the capital city of Kinshasa,mining executives said Thursday.

Peru Mining Cos To Make PEN2.5 Bln Special Payment - PM
LIMA (Dow Jones)--Mining companies operating in Peru will make a voluntary "windfall" payment worth some 2.5 billion soles ($773 million), Prime Minister Jorge del Castillo said Thursday in a speech to Congress.

India April-July Copper Output 184,114 Tons Vs 149,307
NEW DELHI (Dow Jones)--India's copper output in the four months to July rose 23.3% on the year to 184,114 metric tons, a statement from the Ministry of Mines said Thursday.

India April-July Aluminum Output Up 19.6% At 365,780 Tons
NEW DELHI (Dow Jones)--India's aluminum output rose 19.6% on the year in the first four months of the current fiscal year (April-March) to 365,780 metric tons, a government statement said Thursday.

MARKETS:

Comex Copper Review: Pressured By Soft US Economic Data
Soft U.S. housing and durable-goods data sent high-grade copper futures lower in New York on Thursday, traders and analysts said.

LME Review: Copper Pares Gains On US Durable Goods Data
LONDON (Dow Jones)--London Metal Exchange copper prices fell Thursday on lower-than-expected U.S. durable goods orders for July after an early rally, traders said.

China Copper Futures Settle Mostly Dn A Tad In Thin Trade
SHANGHAI (Dow Jones)--Copper futures traded on the Shanghai Futures Exchange settled mostly down a tad Thursday after a rangebound and illiquid session.

-By Dow Jones Newswires; 65-6415-4080; metals@dowjones.com

(END) Dow Jones Newswires

08-25-06 0241ET

Copyright (c) 2006 Dow Jones & Company, Inc.

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