MARKET TALK: China Jan Copper Data Point To Strong Rebound

Stong China copper import data for January suggest refined copper apparent consumption +28% on year, says Goldman Sachs JB Were analyst Malcolm Southwood. Data released late yesterday show Jan. imports +44% on year at 229,077 tons. Says data consistent with view destocking of copper in China has run its course, pointing to strong rebound in imports, apparent consumption in 2007. LME 3-month copper unchanged on yesterday's PM kerb at $5,470/ton.