MARKET TALK: LME Copper May Ease In Line With Other Metals

LME copper may soften short-term in line with slight pullback in other base metals, in need of correction as rally overextended, says Hong Kong-based trader. Speculative short-covering, prompted by better-than-expected China copper import data, exaggerated copper's move, three-month copper needs to retreat to $7,700 and consolidate around there, he says. LME 3-month copper last at $7,860/ton, +$31 on London PM kerb, added $109 overnight on short-covering, fresh fund buying.