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MARKET TALK: LME Stable; Fund Rolls To Soften Prices

Wednesday, May 09, 2007
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LME prices trend lower overnight, now stable as traders adjust positions following end to strike in Peru, fresh fund allocations executed for this month, says trader. Market may soften somewhat in coming days due to index fund rolling period. Continues to watch economic news for clues on short-term direction. LME copper stocks still falling, pointing to longer-term still bullish fundamentals. LME 3-month copper last trades at $8,170/ton, up $6 vs yesterday's PM kerb.

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