** Morgan Stanley sees "headwinds ahead for the metal sector due to weak demand (particularly China), improving supply, a strong dollar, and a declining cost support level"
** Brokerage downgrades Century Aluminum Co to "underweight" from "equal weight", Ivanhoe Mines to "equal weight" from "overweight"
** Century Aluminum falls 7 pct to $13.26 and Ivanhoe Mines down 1.8 pct at C$1.07
** Analyst Paretosh Misra sees a "high likelihood of a dividend cut" from copper miners such as Freeport-McMoRan and Teck Resources as they burn cash in 2015
** Freeport-McMoRan slashed its dividend on Tuesday; Freeport down 1.8 pct and Teck down 2.6 pct
** MS cuts price targets on Century Aluminum, Alcoa, Noranda Aluminum, Freeport-McMoRan and Ivanhoe