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LME Copper Firm, Commods Markets "Find Legs"

Wednesday, Jan 24, 2007
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LME copper likely to play catchup with other buoyant LME metals, namely LME nickel, tin, with commodity markets generally benefiting from USD weakness, renewed jitters on Iran, says trader. "Commodity markets seem to be finding legs again," he says. Adds, LME 3-month copper to target $5,950-$6,000/ton in short-term on expectations of Asian buying, improving technical indicators; $5,400-$5,500/ton acting as support. LME 3-month copper last trades at $5,720/ton, up $70 on Tuesday PM kerb.

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