MARKET TALK: LME Copper Flat; Big Warrant Position Eyed

LME 3-month copper unchanged vs London PM kerb at $6,885/ton with stronger USD/JPY damping consumer buying interest, unchanged differential between LME and Shanghai Futures Exchange copper also failing to elicit buying or selling interest, says trader at major Japan house; adds market concerned about large, unknown warrant position holder, with over 50% of total warrants, which could possibly spur short-squeeze; position should prompt buying on nearby spread on London opening, also bullish for 3-month contract.