Nonferrous

• Nymex unveils IPO offering Nov 17, 2006

  The New York Mercantile Exchange said late Thursday that it had priced 6,500,000 shares of its common stock at $59 per share under its initial public offering.

• LionOre denies Harjavalta bid; Norilsk said closing in Nov 16, 2006

  LionOre Mining International Ltd., Toronto, appears to be out of the running for OM Group Inc.’s Harjavalta refinery in Finland, making MMC Norilsk Nickel the most likely candidate to acquire the nickel asset.

• Peru mining unions threaten national strike Nov 16, 2006

  Mining companies in Peru are bracing for a national strike as unions prepare to protest against government plans to change company profit-sharing rules.

• Molybdenum price stability seen into ’07 Nov 16, 2006

  The molybdenum market likely will remain in a holding pattern into 2007 amid reduced output from three major industry players.

• Magnesium prices increase as supply begins to dwindle Nov 16, 2006

  U.S. magnesium prices are rising as consumers move to cover their needs in a market with less metal to sell.

• USW cautious as it awaits CVRD’s plans for Sudbury Nov 16, 2006

  Workers at Cia. Vale do Rio Doce’s newly acquired nickel complex in Sudbury, Ontario, have not seen any changes under the new ownership, nor have they been approached about working with Xstrata Plc’s unionized workers yet.

• Chinese to act quicker on tax changes CNIA Nov 16, 2006

  The market can expect swift action from Beijing in adjusting export taxes in the future should it decide to further discourage the export of energy-intensive, resource-intensive or polluting products, said Wen Xianjun, director and secretary-general of China Nonferrous Metals Industry Association (CNIA).

• Copper slips on fund sell-off and higher stocks Nov 16, 2006

  Copper took a tumble Thursday on the London Metal Exchange as higher inventory levels continue to spook the market.

• Boliden reorganizes copper, zinc units Nov 16, 2006

  Boliden AB said Thursday that it had reorganized its copper and zinc smelter businesses into a new entity called Business Area Smelters and set up a new group, Business Area Market.

• Indalex to sell drawn tube plant to Spectube Nov 16, 2006

  Indalex Holding Corp., Lincolnshire, Ill., agreed to sell the assets of its drawn tube operation in Winton, N.C., to Spectube Inc., Chicoutimi, Quebec. Terms of the deal were not disclosed.

• LionOre denies Harjavalta bid; Norilsk said close to deal Nov 16, 2006

  LionOre Mining International Ltd., Toronto, appears to be out of the running for OM Group Inc.’s Harjavalta refinery in Finland, making MMC Norilsk Nickel the most likely candidate to acquire the nickel asset.

• Inco delisted from NYSE Nov 16, 2006

  Inco Ltd. said today is the last day for trading of its common shares on the New York Stock Exchange.

• Imports and exports of US brass mill products slide in September Nov 16, 2006

  U.S. imports and exports of brass mill products declined in September, according to the latest figures from the Copper and Brass Fabricators Council.

• Indium prices hold as Asian standoff continues Nov 16, 2006

  Spot prices for indium have stalled at $720 to $760 per kilogram as a battle of wills continues between Chinese producers and Japanese refiners of indium tin oxide (ITO), demand for which in flat-panel displays is the most important market variable.

• US brass mill imports, exports slide in Sept. Nov 16, 2006

  U.S. imports and exports of brass mill products declined in September, according to the latest figures from the Copper and Brass Fabricators Council.

• Magnesium prices head higher as supplies dwindle Nov 16, 2006

  U.S. magnesium prices continue to rise as consumers move to cover their needs as available supplies become harder to find.

• Peru mining industry prepares for national strike Nov 16, 2006

  Miners in Peru are braced for a national strike as mining unions are set to protest against government plans to change company profit-sharing schemes.

• Nickel market anticipates stronger demand in 2007 Nov 15, 2006

  Nickel premiums are stable as consumers start booking 2007 contracts at higher rates and volumes than 2006 contracts in anticipation of stronger demand for the metal.

• ITC keeps tariffs on China silicon Nov 15, 2006

  The U.S. International Trade Commission (ITC) voted unanimously Wednesday to keep existing antidumping duty orders on silicon metal imports from China but revoked duties on the same material from Brazil.

• Barrick lays out case for its NovaGold bid Nov 15, 2006

  Barrick Gold Corp. believes that NovaGold Resources Inc. cannot develop its holdings alone, and has laid out a detailed case in support of its $16-per-share hostile bid for NovaGold.

• Novelis names new president of Asian operations Nov 15, 2006

  Novelis Inc. has appointed Thomas Walpole president of Novelis Asia, effective Feb. 1, 2007.

• Alcoa Packaging reaches deal at Virginia plant Nov 15, 2006

  Alcoa Inc.’s Packaging unit has reached an agreement on a new five-year labor pact with the Graphic Communications Conference of the International Brotherhood of Teamsters, covering approximately 200 employees at the company’s Grottoes Plastics Plant in Grottoes, Va.

• Barrick makes case for its NovaGold bid Nov 15, 2006

  Barrick Gold Corp. asserted that NovaGold Resources Inc. cannot develop its holdings alone as Barrick laid out a detailed case in support of its $16-per-share, $1.7-billion hostile bid for NovaGold.

• IRC swings into profit off Voisey’s Bay Nov 15, 2006

  International Royalty Corp., Englewood, Colo., reported its first-ever profit since its going public in February 2005 on the back of production at Inco Ltd.’s Voisey’s Bay Mine in Labrador.