U.S. Commodities Day Ahead: Copper Climbs as Korea Concern Eases

The following are the top stories on metals, agriculture and shipping.

METAL PRICES: （$/ton）

                 Last  % Chg RSI

Copper          8,192   +0.6  44

Aluminum        2,275   +0.9  42

Zinc            2,105   +0.9  35

Lead            2,209   +1.0  36

Nickel         21,850   +1.2  41

Tin            24,000   +0.4  36

Copper Rises for First Day in Four on Reduced Korea Concern

Copper rose for the first day in four in London on reduced concern about yesterday’s exchange of artillery fire between North and South Korea.

INDUSTRIAL METALS:

Rusal to Start Alloy Venture, Buy Into China Trader （Update1）

United Co. Rusal, the world’s largest aluminum producer, agreed to create an alloys production venture with China North Industries Corp. and buy a stake in a trading unit as it seeks access to Asia’s biggest economy.

‘Shooting Star’ Means Commodity Index Skid: Technical Analysis

Commodities may drop 17 percent in the next few weeks, according to technical analysis by United- ICAP, a unit of ICAP Plc, the world’s largest broker of transactions between banks.

MINING:

Sojitz, Lynas Sign Deal to Speed Doubling of Capacity （Update2）

Lynas Corp. and Japan’s Sojitz Corp. signed a supply deal that will speed up the Australian rare earths developer’s plan to double capacity and also secure supply for Japan after China slashed exports.

China Resumes Rare Earth Exports to Japan, METI Says （Update1）

China, the world’s biggest exporter of rare earths, has restarted shipments of the minerals to Japan after a diplomatic row between the two countries disrupted trade in September, Japan’s trade ministry said.

Vietnam’s Bauxite Reserves May Total 11 Billion Tons （Update1）

Bauxite reserves in Vietnam may total 11 billion metric tons, enough to ensure the long-term supply to the country’s alumina industry, according to Prime Minister Nguyen Tan Dung.

Pike River Miners Presumed Dead After Second Blast （Update2）

The 29 miners missing after a blast in a New Zealand coal mine five days ago are likely dead in the nation’s worst mining tragedy in almost a century, following a second explosion.

Cameco Agrees to Supply Uranium to Guangdong Nuclear （Update1）

Cameco Corp., the world’s second-largest uranium producer, agreed to supply the fuel to China Guangdong Nuclear Power Holding Co. through 2025 to meet rising demand in the world’s fastest-growing nuclear market.

PRECIOUS METALS:

Gold Fluctuates Amid European Debt Concerns, Korean Tension

Gold fluctuated in London as concerns about Europe’s debt crisis and escalating tensions between North and South Korea boosted demand for a protection of wealth.

Top-Gaining Metal Palladium May Jump 19% on Cars: Chart of Day

Palladium, this year’s best-performing metal, may rally another 19 percent by the end of 2011 as auto sales climb in China and India, said William O’Neill, a partner at Logic Advisors.