MARKET TALK:LME Base Metals Await Fresh Direction

Whether London Metal Exchange participants will sell into the base metals' recent strength or be forced to short-cover will determine fresh price direction, says BaseMetals. Without being "too complacent," the weaker tone seen at the start of the month has passed, BaseMetals notes. "We need to see this strength in the metals hold for a while when the US market is up and running and not in holiday mode as it was at the end of last week," BaseMetals adds.