MARKET TALK: LME Copper At Key Level, May Break Either Way

LME copper at key level between $7,950-$8,000/ton, previous breakout range, may break either way in London trade; "We're right in the middle here, it'll be interesting to see what London will do," says HK-based trader." Notes end of strike at Grasberg mine takes away some support, but fund buying interest remains strong, copper's recovery on Friday after falling Thursday suggests copper downside limited. However, as copper's recovery failed to regain $8,000 level, trader tips copper to retreat to $7,800-$7,850 in London. LME 3-month copper last at $7,955/ton, up $5 on London Friday PM kerb.