MARKET TALK: LME Copper Steadiness Sets Up Test Of $6,750

LME copper eases slightly on greater-than expected softness on Shanghai copper futures, but holding reasonably well around $6,600/ton, setting up immediate test of $6,750 in London, says Hong Kong-based trader. LME 3-month copper down $10 on London Friday PM kerb at $6,595/ton, off low of $6,510. Trader says Friday's close above $6,600 positive, copper's trading range moved up to $6,400-$6,750. Notes LME copper's steadiness despite some profit-taking this morning suggests further gains likely in London. "If we can hold around these levels (in Asia), London will take it up to test $6,650. If we break above that, then $6,750 is certainly in play."