MARKET TALK: LME Copper Buoyed By China Buys, Lifts Complex

Solid buying of copper overnight in China has positioned the metal back in its uptrend, says a broker, and this will lend support to the rest of the complex. " I think we'll find last week's correction was a dip to buy," he says. Notes nickel remains the market leader, after failing to collapse last week, while aluminum is eyeing $3,000/ton ahead of opinions expiry next week. LME copper, zinc and tin are up 1% from Friday, at $7,350/metric ton $ 3,755/ton and $13,975/ton, while lead is flat and three-month nickel is up 0.5% at $50,100/ton.