MARKET TALK: China Copper Futures Higher On Cash Premiums

Copper futures traded on Shanghai Futures Exchange higher on strong cash values, amid firm LME 3-month, analysts say. "As physical dealers have been unwilling to sell copper if the bids are too low, premiums remained high, which drove up front month sharply today, while LME finds support at $6,500 per ton" says Ren Jingwen, analyst at Huawen Futures. Benchmark March 2007 contract at CNY53,780/ton, up CNY740.