MARKET TALK: LME Copper May Challenge $8,000 In London

LME 3-month copper may test $8,000/ton in London session as market may want to probe short-term resistance; close above $8,000 at end of week would likely improve technical charts, set up $8,400 as next target, says Tokyo-based trader at major Japan house. LME 3-month copper last at $7,880/ton, +$70 on London PM kerb. However, adds copper likely to fail to break $8,000 as contract has encountered heavy selling as it nears that level in recent sessions. Notes news that labor protest at PT Freeport Indonesia's Grasberg mine will end today, if confirmed, would make breakthrough even less likely.