MARKET TALK: LME Copper Buoyed By Short Covering

LME copper struggles below $7,000/ton but buying interest from "nervous shorts" is seen underpinning prices in the near-term, a trader says. Workers at Xstrata Altonorte copper smelter in Chile are waiting for a new contract offer after a meeting with management and the threat of a strike leaves market participants keen to avoid being caught short, he notes. LME copper trades at $6,937.50/ton, up from $6,822.50/ton overnight.