MARKET TALK: LME Copper Recovers As Consumers Tempted

LME base metals activity quiet early Wednesday but copper has recovered from earlier weakness in Asia, says a base metals broker. Consumers looking to buy on the cheap have been attracted by lower price levels, says broker. Adding to price support, LME data shows copper inventories down 2,925 tons to 163,200 tons Wednesday. Copper stocks have fallen some 9% since the start of April. Next upside target is $8,200 a metric ton, says broker. LME copper trades at $7,850/ton, up 0.38% from Tuesday.