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Mining news: ALUMINUM7:12am Copper, aluminium hit three-year lowsCOPPER and aluminium touched three-year lows as inventories rose and investors fretted about sluggish demand and decelerating economic growth. Copper for three-month delivery on the London Metal Exchange fell to a more than three-year low of $US3570 per UPDATE 7-Copper and aluminium hit 3-yr lows on demand doubts* Copper hits 3-year low as LME stocks rise * Aluminium touches 3-year trough * Outlook bearish for rest of the year (Adds closing prices) LONDON, Nov 12 (Reuters) - Copper and aluminium touched three-year lows on Wednesday as inventories rose and UPDATE: Rusal Pushes To Place 4 Govt Reps On Norilsk’s Board(Adds details from Rusal statement) LONDON (Dow Jones)–Russian aluminum producer UC Rusal said Wednesday it will seek to have four government representatives placed on OAO Norilsk Nickel’s (GMKN.RS) board of directors at a Norilsk board meeting in China’s Danjiangkou Aluminium cuts output by 20,000 mt/yearChina’s Danjiangkou Aluminium Works in Hubei province has reduced its aluminium metal output by about 20,000 mt/year since October due to weak market conditions, a company source said Wednesday. ‘Most smelters are producing at a loss and many have US STOCKS-Wall St falls as Alcoa, Tyco hint of more economic woeNEW YORK, Nov 11 (Reuters) - U.S. stocks slid on Tuesday as faltering demand at aluminum maker Alcoa and a dismal outlook from Tyco International showed the economic slowdown is deepening. The Dow Jones industrial average was down 176.58 points, or 1.99 US STOCKS-Market drops as Tyco, Alcoa feed economic worriesBy Kristina Cooke NEW YORK, Nov 11 (Reuters) - U.S. stocks slid on Tuesday as production cuts at aluminum maker Alcoa, a dismal outlook from Tyco International and weak results at Starbucks underscored fears the economic slowdown will deepen. Signs that Wall Street slides as Tyco and Alcoa feed economic worriesBy Kristina Cooke NEW YORK (Reuters) - Stocks slid on Tuesday as production cuts at aluminum maker Alcoa, a dismal outlook from Tyco International and weak results at Starbucks underscored fears the economic slowdown will deepen. Signs that the Chinese US STOCKS-Wall St falls as Alcoa, Tyco hint of more economic woe(Updates to 4 p.m.) NEW YORK, Nov 11 (Reuters) - U.S. stocks slid on Tuesday as faltering demand at aluminum maker Alcoa and a dismal outlook from Tyco International showed the economic slowdown is deepening. The Dow Jones industrial average .DJI was Wall Street falls as Alcoa, Tyco hint of more economic woeNEW YORK (Reuters) - Stocks slid on Tuesday as faltering demand at aluminum maker Alcoa and a dismal outlook from Tyco International showed the economic slowdown is deepening. The Dow Jones industrial average .DJI was down 176.58 points, or 1.99 percent, Stocks drop as Tyco, Alcoa fuel economic worriesBy Kristina Cooke NEW YORK (Reuters) - Stocks slid on Tuesday as production cuts at aluminum maker Alcoa, a dismal outlook from Tyco International and weak results at Starbucks underscored fears the economic slowdown will deepen. Signs the Chinese Stocks drop as Tyco, Alcoa fuel economic worriesBy Kristina CookeNEW YORK (Reuters) - Stocks slid on Tuesday as production cuts at aluminum maker Alcoa, a dismal outlook from Tyco International and weak results at Starbucks underscored fears the economic slowdown will deepen. Signs the Chinese Wall St drops as Alcoa, GM darken global outlookBy Leah Schnurr NEW YORK (Reuters) - Stocks fell on Tuesday as production cuts at aluminum maker Alcoa and worries over depleting cash at automaker General Motors underscored fears that the global economic slump is deepening. Signs that the Chinese Wall St drops as Alcoa, GM darken global outlookBy Leah SchnurrNEW YORK (Reuters) - Stocks fell on Tuesday as production cuts at aluminum maker Alcoa and worries over depleting cash at automaker General Motors underscored fears that the global economic slump is deepening. Signs that the Chinese US STOCKS-Losses at Alcoa, GM cloud global outlookBy Ellis Mnyandu NEW YORK, Nov 11 (Reuters) - U.S. stocks tumbled as production cuts at aluminum maker Alcoa, fears of a cash drain at automaker General Motors and signs the Chinese economy is faltering heightened fears of a global economic slump. The Beacon Equity Issues Technical Trade Alerts on Aluminum and Steel Stocks: AA, ACH, CENX, X, KALU, PKXDALLAS, Nov. 11 /PRNewswire/ — BeaconEquity.com announces the availability of Trade Alerts on stocks making news today.Investors can view all of the daily trading notes for free by visiting: http://www.BeaconEquity.com/m Today’s Trade Alerts include: Alcoa downgraded by FBR as price target cut in halfLONDON (MarketWatch) — Alcoa (AA:AANews, chart, profile, moreLast: Delayed quote dataAnalyst Create alertInsiderDiscussFinancials Sponsored by:, , ) was downgraded to market perform from outperform by Friedman, Billings, Ramsey and the aluminum giant’s Egypt Aluminium Q1 net up 0.8 pctCAIRO, Nov 11 (Reuters) - Egypt Aluminium, the country’s largest aluminium producer, made net profit of 227.3 million Egyptian pounds ($41.1 million) in the first quarter to September quarter, 0.8 percent more than in the same period of 2007, the stock Alcoa cuts more aluminum output to fight glutSYDNEY - U.S. aluminum giant Alcoa Inc. has slashed a further 350,000 tonnes of aluminum-making capacity worldwide, the latest cutback by a major producer in the face of deteriorating markets. Alcoa said it needed to make the cuts across its global More big cuts in global aluminium production as Alcoa slashes 350,000 tonnesAlcoa warns waning demand forces it to take 15 pct of capacity offline as LME stockpiles reach 1.55m tonnes. Vietinbank to finance bauxite and aluminumHighland Lam Dong province. A credit contract was signed on November 8th 2008 between Vietinbank and the Vietnam Coal & Minerals Group, the project?s owner. This was part of a credit package worth VND 1.65 trillion that Vietinbank had agreed to extend |
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