MARKET TALK: LME Base Metals Little Changed; Copper Up

LME base metals mostly unchanged in late Asia trade as market in holiday mood with few players willing to establish new positions, says trader at major Japan house. Notes flagship copper slightly higher, supported by trade buying, though will remain under pressure from short-term funds, while little movement for zinc, lead despite continued shutdown at BHP Billiton's Cannington mine in Australia. Says aluminum only base metal that may chart big gains, large option open interest for January prompt could force shorts to cover, spur fresh buying. LME 3-month copper last at $6,685/ton, +$45 on London PM kerb; aluminum at $2,810.50/ton, +50 cents; zinc down $25 at $4,340/ton; lead flat at $1,635/ton.