MARKET TALK: LME Copper Vulnerable To Downside, Drifts

LME copper looks vulnerable of a break to the downside after falling through nearby support at $6,800/ton, basis three-month, says a trader. "Bearish news for the copper market is stacking up, though I don't expect a concerted effort to get to the lower number before the Altonorte situation is resolved and we've had movement at Codelco on their contract talks," he says. LME 3-month copper trades at $6,820/ton, down $15 on the Tuesday PM kerb after earlier fall to $6,787.50.