WSJ:LME Copper Falls as Investors Cash In On Rally
By Francesca Freeman
LONDON--Copper futures fell on the London Metal Exchange Wednesday as investors took profits on the previous session's gains.
The metal rose 2% Wednesday as worries about supply disruptions in Chile and speculation over possible economic stimulus by China reinvigorated investor interest.
Work at Anglo American PLC's (AAL.LN) Los Bronces mine in Chile restarted Tuesday after violent contract-worker protests disrupted operations.
The LME's three-month copper contract was down 0.7% at $6,559.75 a metric ton in morning European trade.
"Given the weakness of late the market will remain vulnerable until confidence returns," said William Adams, head of research at FastMarkets.com.
In other base metals Wednesday, aluminum was up 0.2% at $1,755.25 a ton, zinc was 0.5% higher at $2,000.75 a ton, nickel was down 0.5% at $16,120 a ton, lead was up 0.1% at$2,087 a ton and tin was flat at $23,200 a ton.
