MARKET TALK: Low LME Prices May Tempt Copper Consumers

Consumers may be tempted back to London Metal Exchange copper now prices are some $3,000 a metric ton below their May 2006 peak, says BaseMetals analyst Will Adams. This would allow prices to consolidate, he adds, although now prices are in a vacuum between $6,400/ton and $5,165/ton support, "it is hard to say where support is likely to be found." Adds "as such we would look for support to be found before too long and given the relative robustness across the other metals, copper may have some room for a rebound." LME copper trades last at $5,720/ton, down from $5,870/ton overnight.