MARKET TALK: Liquidation Keeps LME Copper Under Pressure

Reports of redemption pressure on hedge fund Red Kite are causing the short term momentum fund community to drop positions in London Metal Exchange copper, a broker notes. Liquidation initially began as "sensation seekers" exited copper positions, but the mood soon spread to the wider trading community and is likely to keep prices under pressure, he adds. LME copper is down 5% from Friday at $5,370 a metric ton.