MARKET TALK: Technical Buying Boosting LME Base Metals

Over the next few weeks, expect to see volatile trading in the base metals, says Adam Rowley of Macquarie. Technical-related buying has boosted prices across the board, but in copper, it's a bit too early to call it a real bounce as inventories level could continue to build over the next few weeks, says Rowley. Adds that no major news seems to be driving the strength. Copper trades at $5,765 per metric ton, up roughly 2.5% from Tuesday while zinc trades at $3,620/ton, up nearly 3% from Tuesday.