ANFGF - Metals Rally Pauses on China Moves

Global mining shares are indicated lower as base metals prices turn broadly lower after China launched measures to fight its energy crisis that threatens the country's economic growth. RIO -4.1%, VALE -1.7%, BHP -1.1%, AA -1.7%, CENX -1.5%, TECK -1.7%, FCX -1.1%. Also on watch: OTCPK:GLCNF, OTCPK:GLNCY, OTCQX:AAUKF, OTCQX:NGLOY, OTCQX:FSUMF, OTCQX:NHYDY, OTC:ANFGF London copper (HG1:COM) -1.5% to $10,005/ton in its third straight session of declines after low inventories on the LME system pushed prices to a high of $10,452 on Monday. However, "we do not believe that the current price setback will mark the beginning of a trend reversal," Commerzbank analyst Daniel Briesemann tells Reuters, noting that "China has used various measures such as releasing state reserves in a vain attempt to cool the price rally." London aluminum (LMAHDS03:COM) also -1.5% to $3,063/ton, while lead, tin and nickel also trade lower; zinc +1.7% to $3,566/ton.

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Metals Rally Pauses on China Moves