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MARKET TALK: LME Copper, Zinc Need To Flush Out Weak Longs-BNP

Friday, May 11, 2007
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LME copper, zinc likely to face further long liquidation before bouncing back, says BNP Paribas; after copper's rally above $8,000, zinc above $4,000 last week, both metals likely to draw "additional flushing of weak longs" before fresh buying emerges, but copper still on target to test last May's record high of $8,800. LME 3-month copper last at $7,820/ton, down $60 vs London PM kerb; zinc flat at $4,000.

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