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MARKET TALK: China Copper Futures Tad Dn; Stks Not A Concern

Monday, Mar 12, 2007
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Copper futures traded on Shanghai Futures Exchange little changed, with positive market sentiment remaining largely unmoved by rise in exchange warehouse stocks for 2 consecutive weeks, says Star Futures analyst Chen Wei; "as many plants just began operations early last week, it's reasonable that their need for restocking didn't appear last week." SHFE copper stocks at 6,027 tons as of Friday, up 15% from a week ago. Benchmark May contract at CNY57,580/ton, +CNY30. LME 3-month at $6,160/ton, +$30 from Friday's PM kerb.

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