MARKET TALK: SHFE Copper Stks May Rise Again Before Holidays

Rise of Shanghai Futures Exchange copper stocks by 2,654 metric tons from week ago to 26,652 tons Friday indicate buying by local traders, end users has slowed as some already on holidays, amid heavy imports; likely to push stocks higher again next Friday, local analysts say. This year's Chinese New Year holidays falls on Feb. 18-24; "We'll probably see cash premiums fall further in the final week before the holidays, which will also pressure futures prices," says Gu Yuan, Jinpeng Futures' analyst. SHFE benchmark April contract settles at CNY51,080/ton, +CNY790.