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MARKET TALK: Liquidation In LME Copper May Pressure Aluminum

Wednesday, Apr 25, 2007
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Further profit-taking in LME copper in coming days may pressure LME aluminum, says HARBOR intelligence. Notes as copper's overnight slide on weak U.S. home sales data makes copper's short-term breakout above $8,150 more unlikely, aluminum bias remains on downside, especially with growing underlying bearish fundamentals. Pegs support at $2,550/ton, resistance at $2,875. LME 3-month aluminum last at $2,838.75/ton, down 25 cents on London PM kerb; copper up $14 at $7,814/ton, after falling $209 overnight.

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