Metal Industry News Service
Scrap Metal Recycling - Ferrous / Non-ferrous Metals - Export & Broker News	Tuesday, January 6, 2009

Scrap Pricing

Scrap Copper

Southern Copper shares fall after Citi downgrade (AP)
Shares of Southern Copper Corp. slipped on Monday after a Citi analyst downgraded the mining company. Citi's Alexander Hacking cut the company's rating to "Hold" from "Buy," noting that any possible growth opportunity in the short term is outweighed by a recent run up in its share price.
You'll Never Take This Trader Alive, Copper! (at Investopedia)
[$$] Indian stocks kick off 2009 with 2.7% gain (at The Wall Street Journal Online)
Olin says Nev. equipment failure disrupts shipment (AP)
Chemical-maker Olin Corp. said on Wednesday that it had an equipment failure at a facility in Henderson, Nev. which makes caustic soda and chlorine, forcing it to declare force majeure for products shipped from there.
Equipment failure prompts Olin force majeure (at bizjournals.com)
Olin Declares Force Majeure for Product Shipments from Henderson, Nevada, Santa Fe Springs, California and Tracy, California (Business Wire)
Machinery & Construction (Zacks.com)
Freeport-McMoRan Copper & Gold Inc. Declares Quarterly Cash Dividends on Preferred Stocks (Business Wire)
PHOENIX----Freeport-McMoRan Copper & Gold Inc. today declares the following quarterly cash dividends payable on February 1, 2009 to holders of record as of January 15, 2009: $1.6875 per share of FCXт??s 6ТО% Mandatory Convertible Preferred Stock . $13.75 per share of FCXт??s 5ТН% Convertible Perpetual Preferred Stock.
Dr. Doom: Short Treasurys, Buy Hard Assets (at CNBC)
Encore Wire Corporation (WIRE): Zacks Rank Buy (Zacks.com)
Encore Wire surprised on third quarter estimates by 25.93%.
Pros Weigh Bull and Bear Case for Copper (Indie Research)
Copper prices actually peaked earlier than those of most commodities this year.
Gibraltar Mine Operational and Financing Update (PR Newswire)
Suncor Energy, Freeport McMoRan Copper & Gold: Money Flow Leaders (SU, FCX) (at The Wall Street Journal Online)
Beldens Benoist to join Olins board (at bizjournals.com)
Gray G. Benoist Elected to Olins Board of Directors (Business Wire)
Will We See a Big Upward Move in Gold? (at Seeking Alpha)
Taseko Mines Limited Gibraltar Reserve Update (PR Newswire)
Taseko Mines Limited announces a 28% increase in mineral reserves at its 100% owned Gibraltar Mine.
Encore Wire Announces Cash Dividend (Business Wire)
MCKINNEY, Texas----Encore Wire Corporation announced today that the Companyт??s Board of Directors has declared a cash dividend.
[$$] Freeport-McMoRan Director's Huge Sale (at Barron's Online)
Robert Day sold $12.7 million in shares of the mining company.
Nord Resources Closes Portion of Copper Hedge and Receives Proceeds of $1.5 Million (CNW Group)

Copper Top 30 Day Copper

Production & Consumption

U.S. copper mine production in 2002 dropped to 2,516 million pounds from 2001's 2,954 million pounds.

The 2002 level of 7,313 million pounds is a 6.0% decrease from the revised 2001 level of 7,780 million pounds.

Exports of mill products in 2002 continued to decline also, down 7.1% at 735 million pounds versus imports of 909 million pounds, a decrease of 10.0% from 2001 levels.

Building construction continued to be the largest end-use market for copper products, accounting for more than two-fifths, 46.3% (3,384 million pounds), of total U.S. consumption. Other end-use markets:

Electrical and electronic products - 22.7%
(1,662 million pounds)

Transportation equipment - 10.2%
(744 million pounds)

Consumer and general products - 10.9%
(798 million pounds)

Industrial machinery and equipment - 9.9%
(725 million pounds)

The most current annual market data figures may be found in the market data section.

The information provided in this section has been collected from many varied sources and is true and accurate insofar as the Copper Development Association Inc. has been able to determine.

Metal Industry News Service