MARKET TALK: LME Copper Dn Tad On Weaker Fundamentals

LME 3-month copper last at $6,520/ton, down $10 on London PM kerb as metal remains under pressure from weakening fundamentals, after end to strike threats at Altonorte smelter, Codelco mine; losses limited by arbitrage trading, with Asia players selling Shanghai copper to buy cheaper LME copper, says Star Futures' Jerry Wei. Trader at major Japan house says copper likely to test June low of $6,425 short-term, but unlikely to break lower as "nobody wants it to go down so much at this point," expects copper to recover once all market players return in new year, with rally back to $7,000 likely as supply tight despite recent increases of LME stocks.