Bloomberg reported that copper may decline in London after a report showing inflation in China the biggest metals user unexpectedly accelerated in January, limiting room for monetary easing and as talks over a Greek bailout stalled.

Metals News
1. Rio Tinto Group, the world’s third largest mining company, swung to a H2 loss its first in 4 years after taking USD 8.9 billion one time charge on the value of its aluminum business.

2. Refined tin shipments from Indonesia, the world’s largest exporter, plunged 64% in January from a month earlier after bad weather disrupted mining, reducing ore supplies to smelters.

3. Rio Tinto Group had 181 million pounds of so called open copper shipments that will be priced in the first half of this year.

4. BHP Billiton Limited may consider selling about USD 10 billion of aluminum, nickel and coal mines and smelters as it trims its portfolio.

5. OAO GMK Norilsk Nickel is studying acquisitions in Africa.

(Sourced from Bloomberg)