MARKET TALK: SHFE Copper Limit-Down 4% On Short-Selling

Copper futures on Shanghai Futures Exchange limit-down, weighed on by fresh short positions "as market participants expect further losses in LME 3-month tonight," says Dalu Futures analyst Wang Zheng; analysts in Shanghai predict LME copper will test and possibly breach support at $5,400-$5,500 this week if inventories continue to rise. Benchmark March SHFE copper at CNY51,990/ton, down CNY2,170, or 4%; LME 3-month at $5,559/ton, down $56 from PM kerb.