LME Copper New Record High (Dow Jones)

DJ MARKET TALK: Commodity Roundup: LME Copper New Record High 2346 GMT [Dow Jones] COMMODITY SUMMARY: LME copper hits new record high of $8,940/ton overnight Wednesday, aluminum also up as strong fund buying hits buy stops. Other base metals slip; crude oil edges higher. Copper prices could continue higher with the ongoing mining strike in Peru, now starting to affect some production, supporting prices, says MF Global analyst Edward Meir. But several analysts and traders say copper and aluminum - while stronger performers of base metals - could face difficulties pushing significantly higher in environment of poor demand, minimal supply disruptions. Strike in Peru still ongoing, government declares worker action illegal. LME 3-month copper up $105 vs PM kerb at $8,715, aluminum up $46 at $3,200, lead down $60 at $1,705, zinc down $61 at $1,865, nickel down $400 at $21,150, tin up $495 at $23,100. Spot gold trades close to 10-week highs overnight as oil rises, USD falls after earlier softer tone on profit-taking; spot gold at $942.95/oz, down $2.35 vs NY close, silver at $18.31, down 6 cents, platinum at $2,070.50, up $15.50, palladium at $462.50, down 50 cents. Nymex August crude futures up 28 cents at $143.87/bbl. (EFB)