Bloomberg reported that copper fell heading for a fourth weekly decline after Germany ruled out joint euro area borrowing and an expanded role for the European Central Bank in fighting the region’s debt crisis.

Metals News:
1. OZ Minerals Limited said that copper supply shortages which have been driven by operational problems and labor strikes in South America and Indonesia are likely to persist next year.

2. OZ Minerals Limited expects long term copper prices to be around USD 2.50 per pound.

3. Japan’s output of copper and copper and alloy fabricated products, including sheets and tubes declined 11.5% in October from a year earlier.

4. The exploration joint venture between Aluminum Corporation of China Limited’s state owned parent company and Rio Tinto Limited will officially begin operations in China.

5. China will soon release a plan to develop the nation’s nonferrous metals industry over the five years through 2015.

(Sourced from Bloomberg)