MARKET TALK:

 Limited Upside Potential For Base Metals -SocGen


Base metals have limited upside potential at present,
even if the upcoming E.U. summit is viewed as a success, says Societe Generale.
"Even if the market were to become confident that the euro will survive, the
next big question is what damage has been done to the global economy," SocGen
says, adding that it is likely to take several months before the macroeconomic
outlook for next year becomes clear. "In the meantime, base metals prices are
unlikely to trend higher on a sustained basis," it says. LME 3-month copper
down 0.3% at $7,866/ton.