MARKET TALK: LME Copper May Target $6,000 Short-Term

LME 3-month copper likely to target $6,000 in short-term after finding support twice in past 2 days, suggesting sentiment still strong among consumers, traders, says HK-based trader; last at $5,830/ton, down $70 vs London PM kerb. Trader says today's drop only "a few ticks" compared to recent volatility, believes spell of fund liquidation over, copper "free of immediate danger of collapse in prices." However, notes market may have overcorrected slightly, expects copper to fail test of $6,000, retrace to $5,600-$5,700; breach of $6,000 would spur additional buying.