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MARKET TALK: LME Firm In Early Trade, Looks To Move Higher

Tuesday, Apr 10, 2007
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LME metals firm in early Asian trade after 4-day closure, look to move higher in short term as participants buy back into market following breather last week on book squaring ahead of long Easter weekend, says National Australia Bank analyst Gerard Burg. Upcoming strong period for construction during Northern Hemisphere summer period bodes well for demand; says little fresh news to drive prices. Doesn't believe Chinese copper consumers have sufficiently high stock levels to postpone contracted shipments given copper high prices; LME 3-month copper trades at $7,450/ton, up $120 vs Thursday's PM kerb.

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