MARKET TALK:China Copper Futures Edge Up,Eye Cash Premiums

Copper futures on Shanghai Futures Exchange a tad higher, underpinned by cash prices, and "likely to breach the 54,000- to 55,000-yuan range in a few sessions given falling local stocks," says Huawen Futures analyst Ren Jingwen. Notes cash premiums key to short-term market direction, as indication of whether arrivals of imports can effectively alleviate tight supply. SHFE copper supplies at 24,071 tons as of Friday, down 6,488 vs week earlier. SHFE most active April contract at CNY54,290, +CNY340. LME 3-month copper at $5,845/ton, +$45 from Friday PM kerb.