MARKET TALK: LME Copper Shows Little Enthusiasm

Copper isn't showing enough enthusiasm for a rally in London Metal Exchange trade and this is a warning sign of further downside for prices, says BaseMetals. Although the market is seeking support, prices have "elected to ignore," the potentially bullish news that Codelco's Norte division rejected an early offer for a new labor contract, he adds. LME three-month copper trades at a five-month low of $6,725 a metric ton, down from a high of $6,910/ton Thursday.