MARKET TALK: China Copper Futures Dn; Caution Before Holidays

Copper futures at Shanghai Futures Exchange lower, tracking overnight losses in LME 3-month copper; "futures are likely to consolidate for the rest of the week, if LME 3-month sees no breakthrough in either direction. This is the last week before the Chinese New Year holiday, and investors tend to be cautious," says Hu Bin, analyst at Yong'an Futures. Notes market eyeing changes of domestic cash premiums, against ample imports, as well as LME copper stocks. Benchmark April contract at CNY51,890/ton, down CNY480. LME 3-month at $5,500/ton, +$30 from PM kerb.