MARKET TALK: Base Metals Consolidate, Look For Direction

Base metals are seen consolidating further Friday, as the market digests the Chinese GDP news, says a broker. "The volumes today are very low. I think people are waiting for some direction," which should follow when inventories come out he says. Notes LME tin seems to have found a base for now. LME copper uptrend looks set to resume, he says. Aluminum +2.2% on the day, at $2,255/ton. Copper -1%, at $7,929.75/ton, nickel -1.5% at $47,700/ton, lead -0.7% at $2,000/ton, tin -7% at $13,900/ton and zinc -1.2% at $3,675/ton.