MARKET TALK: LME Copper To Pull Back Before Uptick Resumes

Very near-term LME three-month copper is looking a bit tired with a down trendline from $8,800/ton ton, says BaseMetals.com analyst Will Adams. Sees a possible pull back to $6,800/ton, or $6,700/ton before it builds a base to move higher. Going into the 2Q copper remains well supported by steady stock drawdowns. "I wouldn't be surprised if we saw another $1,000 on the upside," he says. LME copper traded last at $6,876/ton, up 0.3% on the day.