MARKET TALK: LME Base Metals Dn On Risk Reduction

The base metals complex remain under pressure as risk reduction creates profit taking and long liquidation, but this has "very little to do with market fundamentals," says a London-based broker. The recovery of the US dollar was the catalyst for the selling, he notes. "Once again this activity highlights the need to separate medium- from short-term trading and to watch the global effect of outside forces," he adds. LME copper trades at $7,685/ton, -3% from Thursday's high.