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MARKET TALK: LME Copper May Get FOMC-Related Boost In London

Thursday, Mar 22, 2007
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LME copper may get further slight boost at kick-off of more actively traded London session from FOMC softening tightening stance after as-expected decision to keep rates on hold, as U.S. equity markets responded positively, may prompt similar reaction in base metals, says broker at major Chinese trading house. However, tips copper to consolidate afterwards as sentiment among shorts remains bearish despite recent rally, with shorts unlikely to cover at current levels amid concerns about global economic growth. LME 3-month copper last at $6,665/ton, +$57 vs London PM kerb, hovering near Mar. 20's 3-month high of $6,715.

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