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MARKET TALK: LME Copper Likely Shaky At London Open - Trader

Tuesday, Apr 10, 2007
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LME copper likely "very shaky" at London open as 3-month copper +$420 since London market closed for 4-day Easter weekend, while other markets haven't been as firm, says Tokyo-based trader at Japanese commodity house; LME 3-month copper last at $7,750/ton. Notes equity markets, oil prices haven't been as bullish as copper, base metals, dampening confidence to go long; adds 3-month copper could fall $300 in London though copper's rally above $7,400 today is bullish technically, could prompt technical traders to test Oct. 16 high of $7,840. Daily stock figures, China copper data likely to provide cues.

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