BUZZ-Base metal producers: Fall on Chinese yuan devaluation

Tue Aug 11, 2015 11:00am EDT
 
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** U.S.-listed shares of producers of aluminum, copper, zinc, nickel and other base metals slump on Tuesday after China devalues its currency

** The move fuels worries about a supply glut and boosts the cost of commodities for the world's top metals consumer

** Morgan Stanley lowers 2015 metals price forecasts, citing a "surprisingly" large fall in prices in July on China's equity market selloff

** China devalued the yuan on Tuesday after a run of poor economic data, guiding the currency to its lowest point in almost three years

** Freeport-McMoRan Inc shares down 12 pct at $10.24, Southern Copper Corp down 5 pct at $27.16, ArcelorMittal SA down 5.2 pct at $9.19

** Vale SA down 7 pct at $5.24, BHP Billiton Ltd down 5.7 pct at $37.48, Rio Tinto Plc down 4 pct at $39.85