BASE METALS HIGHLIGHTS: Top Stories Of The Day

LONDON (Dow Jones)--Total world aluminum inventories in April fell by 151,000 metric tons on the month, or 5.5%, to 2.587 million tons, according to figures released Tuesday by the International Aluminum Institute. SHANGHAI (Dow Jones)--About 50,000 metric tons of refined copper are expected to arrive at Shanghai ports by the end of this month, traders said Tuesday. NEW DELHI (Dow Jones)--India's National Aluminium Co. Ltd. (532234.BY) cut prices of its aluminum products by up to INR5,000 ($105) per metric ton in line with global rates, a company official said Tuesday. CANBERRA (Dow Jones)--Production of key industrial metals in Russia will contract in 2009 as a result of a downturn in domestic and global demand, Deputy Minister for Industry and Trade Ivan Materov said Tuesday. SHANGHAI (Dow Jones)--Supply from Chinese mines will be weighing on the global zinc market in the months ahead, likely forcing the metal to give up some of the very strong gains it has built up on the back of earlier output cuts and stockpiling by China's State Reserve Bureau, Macquarie said in a note Tuesday. SINGAPORE (Dow Jones)--Copper mine supply could struggle to match forecast demand growth in the period to 2013, Macquarie Bank said in a report dated Tuesday. Copper futures reversed higher Tuesday, supported by a strong consumer-confidence reading in the U.S. and a stronger tone in equities, analysts said. LONDON (Dow Jones)--Base metals recouped early losses Tuesday on the London Metal Exchange as the dollar eased against the euro and U.S. consumer confidence data beat expectations. SHANGHAI (Dow Jones)--Copper futures on the Shanghai Futures Exchange settled slightly higher Tuesday, though off early highs from profit-taking in the afternoon session.