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MARKET TALK: LME Copper Falls On Grasberg Strike Resolution

Monday, Apr 23, 2007
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LME copper falls on news that the strike at Freeport's Grasberg copper and gold mine in Indonesia ends over the weekend, says base metals broker. "Selling came in during overnight trading because of the strike's resolution, however, there hasn't been very much follow-through selling in European time," broker adds. Copper continues to range-trade between $7,600 a metric ton and $8,100/ton. However should resume its uptrend due to strong Chinese demand near-term, broker notes. LME copper trades at $7,865/ton, down 1.13% from Friday.

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