MARKET TALK: Copper To Target $6,000 As Base Metals Firm

LME 3-month copper last at $5,739/ton, +$133 on London PM kerb, firming in sympathy with revived sentiment on base metal complex, led by nickel, tin, helped by weaker USD, but still moving within range of $5,400-$6,000, says Hong Kong-based trader. Tips copper to hover around $5,720-$5,750 in Asia, with possible rally to $6,000 level in London. However, traders say market watching for U.S. existing home sales numbers Thursday, new home sales Friday to clarify short-term direction, while strength in medium-term needs stock arrivals at LME to slow, more physical buying out of China.