MARKET TALK:SHFE Copper Near Limit-Down; More Falls Likely

Copper futures on Shanghai Futures Exchange stay near 4% limit-down in morning; some contracts touch daily loss limit and "may stay at the level for the rest of the session, with technical support for the benchmark contract at 52,000 yuan likely to be breached in coming sessions" given LME cue, says Dalu Futures analyst Wang Zheng. SHFE benchmark March 2007 contract at CNY52,560/ton, down CNY2,070; LME 3-month metal has breached $5,600, last at $5,575, down $145 from Friday's PM kerb.