MARKET TALK: China Copper Futures Up; Consolidation Eyed

Copper futures at Shanghai Futures Exchange slightly up, likely to consolidate in session, along with firm LME 3-month, says Great Wall Futures analyst Li Rong. Notes "buying on spot market may not significantly pick up until mid March, and before that, futures may lack the momentum to gain much, with plenty arrivals of imports seen in Shanghai". Benchmark May contract at CNY58,030/ton, +CNY430. LME 3-month at $6,080/ton, +$65 from PM kerb.