MARKET TALK:LME Copper Likely Target To $7,150 Short Term

LME 3-month copper likely to target $7,150/ton in London, New York trade on follow-through buying, after rising above and holding $7,000 in Asia on overseas fund buying, says trader at major Japanese house. Notes active spread trading on cash to 3-month contract by funds despite narrow range trading on 3-month (contract now above 200-day MA); $7,000 level appears to be bottom-line for 3-month copper, may range $7,000-$7,400 in December. LME 3-month last at $7,025, +$50 on London PM kerb.