MARKET TALK: Pft-Taking In LME Copper, Zinc Likely Short Term

LME copper, zinc well supported by falling inventory levels and strong demand, meaning profit-taking currently damping prices likely short-term trend, says Standard Bank. LME copper stocks down 1,550 tons overnight at 149,375 tons, zinc supplies down 1,325 tons at 91,675 tons. Copper, zinc often move in tandem but zinc likely to make new record high before copper with copper market better supplied. LME 3-month copper last at $8,170/ton, +$6 vs Tuesday PM kerb; zinc +$11 at $4,126.