MARKET TALK: China Copper Futures Up; Active Buying On Spot

Copper futures at Shanghai Futures Exchange higher, after LME 3-month bounced overnight; "price direction is still murky, although technicals show a rebound is due; stocks need to fall to trigger buying," says Li Rong, analyst at Great Wall Futures. Adds, SHFE looks stronger than LME, underpinned by active buying on spot market, in spite of large amount of imports. Benchmark April contract at CNY51,050/ton, +CNY760. LME 3-month at $5,450, +$35 from PM kerb.