MARKET TALK: LME Copper Tries To Stabilize After Selloff

London Metal Exchange copper is attempting to stabilize after long liquidation pushed prices down Monday, a broker notes. The tightness in the forwards is intact, however, with 3-mo to December '07 valued in a backwardation of $160 a metric ton. LME copper trades last at $5,560/ton, down 5% from a high of $5,848/ton Monday.