The following are the top stories on metals, agriculture and shipping. ECONOMIC EVENTS, AGRICULTURE REPORTS: Forecast Prior Time (N.Y.) U.S. Broiler Eggs Set DEC 24 204211 15:00 Metal Prices: ($/ton) Last % Chg RSI Copper 9,420 +0.8 69 Aluminum 2,457 +1.9 62 Zinc 2,345 +1.6 56 Lead 2,480 +2.0 59 Nickel 24,075 -0.3 53 Tin 26,801 +0.0 63 Other Markets: Last % Chg % YTD U.S. Dollar Index 80.303 -0.1 +3.1 Crude Oil $91.42 -0.1 +15.2 Gold $1,406.5 +0.04 +28 MSCI World Index 1,275.87 +0.03 +9.2 TOP STORY: Copper Jumps to Record in London After Holidays; Aluminum Gains Copper jumped to a record on the London Metal Exchange, catching up with gains in other metals markets as trading resumed today after a two-day holiday. Aluminum, zinc and lead also climbed. COMMODITY EXCLUSIVES: Smuggled-Diamond Revenue Flows to Mugabe’s Zimbabwe Before Vote Enos Chikwere spills nine uncut diamonds from a bag at Restaurante Piscina in Mozambique near the Zimbabwe border and says they’re worth $75,000. Chikwere and hundreds of other border smugglers are part of a chain whose money flows back into Zimbabwe. Japan Technology at Risk in Rare-Earth Shortage: Chart of Day Japan’s increasing reliance on imports of rare-earth metals have made manufacturers such as Hitachi Ltd. and Toyota Motor Corp. more vulnerable to supply disruptions, data compiled by Bloomberg show. Container Lines Add Large Vessels at Record Pace: Chart of Day Container lines will take delivery of a record number of large ships next year because of rising fuel costs and rebounding trade, according to AXSMarine. INDUSTRIAL METALS: AK Steel Is Closing Kentucky Coke Plant to Cut Costs (Update1) AK Steel Holding Corp., the third-largest U.S. steelmaker, is closing a Kentucky coke plant to reduce costs by tapping cheaper sources of the fuel used to produce iron and steel. China Cuts Export Quotas for Rare Earth Shipments by 35% China cut its export quotas for rare earths by 35 percent in the first round of permits for 2011, threatening to worsen a global shortage of the minerals needed for smartphones, hybrid cars and guided missiles. MINING: Sumitomo Paid 2.1 Billion Reais For 30% of Mineracao Usiminas Usinas Siderurgicas de Minas Gerais SA concluded a joint venture operation announced earlier this year with Sumitomo Corporation, which now owns 30 percent of the Mineracao Usiminas mining unit. PRECIOUS METALS: Gold Drops From Two-Week High as Investors Sell Before Yearend Gold declined for the first time in four days as some investors sold the metal before the end of the year to take advantage of its rally to a two-week high. Silver fell from a three-week high. AGRICULTURE: Rubber Advances to Near Record as Buyers Lured by Price Tumble Rubber climbed to near a record on speculation that a price slump yesterday may lure buyers. Corn Declines on Speculation Investors Cash in Gains From Rally Corn futures fell on speculation investors are cashing in gains from an eight-day rally that took prices to a 28-month high. Wheat and soybeans also fell. Palm Oil Declines From 33-Month Peak as High Prices Damp Demand Palm oil declined after reaching a 33-month high yesterday, snapping seven days of gains, as high prices and a slump in exports from Malaysia damped demand. Floods Damage Cotton Crops in Australia’s Queensland (Update1) Flooding in Australia, the fourth-largest cotton exporter, washed away some crops and may reduce yields in Queensland state, an industry group said. Argentina Soy Output May Fall 17% Because of Drought (Update1) Argentina’s soybean production may fall by 17 percent to as low as 43 million metric tons in the 2010-2011 harvest as a result of a drought caused by the La Nina weather phenomenon, research company Economia y Regiones said. Kansas Snowstorm May Protect Wheat Before Cold Snap, Motew Says Winter storms forecast for the U.S. Great Plains in the next three days may leave enough snow to protect dry wheat crops before a cold snap, said Allen Motew of QT Weather. Orange Juice Retreats; Cotton Declines; Cocoa, Coffee Climb Orange-juice dropped the most in two weeks on signs that damage to citrus groves in Florida, the world’s second-biggest grower, was less severe than expected. Cotton declined, while cocoa and coffee climbed. Hogs Drop From Four-Month High as Birth Rates Climb; Cattle Fall Hog futures fell from a four-month high after a government report showed pig litters at record highs, buoying supplies even as farmers cut herds. Cattle also dropped. Sugar Extends Rally to 30-Year High on Global-Supply Concerns Sugar futures extended a rally to a 30-year high on mounting concern that dry weather in Brazil, the world’s biggest producer, and record rainfall in Australia will slash worldwide supplies. ECONOMIES: Home Prices in U.S. Decrease More Than Forecast (Update2) Home prices dropped more than forecast in October, a sign housing will remain a weak link as the U.S. recovery accelerates into the new year. U.S. Economy: Confidence Falls on Concern Over Jobs (Update2) Confidence among U.S. consumers unexpectedly fell in December, restrained by concern that jobs will remain scarce in 2011. U.S. Retailers’ Holiday Sales Jump 5.5% on Apparel (Update4) U.S. retailers’ 2010 holiday sales jumped 5.5 percent for the best performance in five years as shoppers snapped up clothing and jewelry at Macy’s Inc., Tiffany & Co. and other stores. Housing Seen Rising to 3-Year High With Boost for Jobs (Update1) Federal Reserve Chairman Ben S. Bernanke may be about to get help in his attempt to boost the economy, from an industry at rock-bottom: housing. OTHER MARKETS: Treasuries Rebound as Dollar Weakens; Most Asian Stocks Advance Treasuries rallied from the steepest loss in two weeks and the dollar was near a six-week low against the yen amid U.S. data that signaled an uneven recovery in the world’s largest economy. Most Asian stocks rose, paced by energy producers as oil traded near a 26-month high. Dollar Trades Near 6-Week Low on Signs U.S. Recovery Is Uneven The dollar traded near a six-week low against the yen as U.S. data signaled an uneven recovery in the world’s largest economy. Oil Trades Near 26-Month High on Retail Sales, Supply Forecast Oil traded near a 26-month high after a report showed U.S. retailers had their best holiday sales in five years and crude supplies were forecast to extend their biggest monthly decline since December 2006. SPORTS: Manchester City Beats Villa 4-0 to Take Lead of Premier League Manchester City defeated Aston Villa 4-0 to take over the lead of England’s Premier League, while Tottenham moved into fourth place with a 2-0 victory over Newcastle. England Routs Australia to Retain Cricket’s Ashes Urn England beat Australia by an innings and 157 runs in the fourth cricket Test to retain the Ashes for the first time in 24 years with a match to spare. To contact the reporter on this story: Luzi Ann Javier in Manila at ljavier@bloomberg.net To contact the editor responsible for this story: Richard Dobson at rdobson4@bloomberg.net

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