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MARKET TALK: LME Copper At 5-Mo Low; Follows Oil

Friday, Nov 17, 2006
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London Metal Exchange copper slips to a five-month low as lower crude oil futures weigh on sentiment that's turning consistently more bearish, a broker says. Traders remain nervous that prices could tumble below $6,000 a metric ton with the market failing to take respite from ongoing labor talks at Chilean copper producer Codelco. "Spreads are easier and worries over slowing demand are starting to hit hard," the broker adds. LME three-month copper trades at $6,745/ton, down 2% from Thursday's high.

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