MARKET TALK: LME Copper May Consolidate At $5,500-$5,600

LME 3-month copper last at $5,615/ton, +$10 vs PM kerb in quiet, sideways trade as market cautious after losses over past several days, waiting to see if more to come as some players may try to push copper to $5,000, says Maike Futures' Haihua Shen. Notes some longs liquidated positions as rise in inventories suggests demand weaker than expected, and stop-loss sales may have exaggerated fall; still, expects more consolidation short-term at $5,500-$5,600 as demand in China, Asia remains strong, offsetting weakness in Europe, U.S. markets.