MARKET TALK: LME Quiet During Pre-Mkt Trade, Spreads Eyed

The LME is quiet during pre-market trade after two volatile trading days that had nearby spreads oscillate between backwardation and contango, creating some difficulty for physical users of the exchange, says a trader. "Such volatility isn't healthy for the market and doesn't make it easy for physical users ahead of Third Wednesday," he says. "We're quieter now while funds are holding back," he adds. LME 3-month copper last trades at $6,880/ton, down $55 on the Monday PM kerb.