London Metal Exchange three-month metals were stronger Tuesday but the market is still searching for a more definite short-term direction, traders said.

Copper rose to $6,900 a metric ton on the late afternoon kerb close, up $160 on the previous PM kerb prices, but did so on fairly muted interest, traders said.

Aluminium and lead moved higher, but only slightly, each gaining just $2 and $3 on previous PM kerb prices, respectively. Aluminium finished kerb at $2,482/ton and lead at $968/ton. Once again, thin trading conditions prevailed.

"The market's just very, very quiet and although prices are stronger the changes are still well within the usual daily ranges," said one trader.

Zinc saw a relatively wide trading range, moving between $2,875/ton and $3,020/ton. Intraday highs above $3,000/ton were achieved as sentiment swung to the upside following evidence of stock drawdowns and cancelled warrant data in the early AM, according to Triland Metals Ltd. By afternoon, prices settled at $2,945/ton at kerb, up $35 on previous PM kerb prices.

"These moves are just noise rather than any sense of direction," said another trader. "Basically, the big problem the market faces at the moment is trying to find new direction and renewed interest from the investment community or consumers."

Current copper prices are too high to encourage fresh investment from funds but also not low enough to attract market bears, he said, adding that consumers are also reluctant to buy at current levels.

"The market is really hunting at the moment for liquidity and fresh interest."

3 months metal (prices in dollars a ton)
Bid – Ask, Change from Tuesday PM kerb

Copper 6900.00-6910.00, Up 160.00
Lead 968.00-970.00, Up 3.00
Zinc 2945.00-2950.00, Up 35.00
Aluminium 2482.00-2483.00, Up 2.00
Nickel 20400.00-20405.00, Up 600.00
Tin 7925.00-7940.00, Up 75.00