MARKET TALK: LME Moves Sideways, Little Fresh News

LME metals were trading sideways Monday morning with little fresh news to drive the market, says a trader. "In China aluminum fell as the Chinese are worried about the effect on the 15% export tax," he says. Notes "disjointed" physical market conditions for some metals, with "plenty of copper in Europe" and "strong European aluminum premiums amid strong demand, while premiums are coming down in the US." LME 3-month copper trades at $7,400/ton, up $45 on the Monday PM kerb, aluminum at $2,817.50, up $12.50.