MARKET TALK: China Copper Futures Surge; Sentiment Positive

Copper futures traded on Shanghai Futures Exchange sharply up on heels of gains in LME 3-month overnight; market sentiment positive on latest data indicating strong imports of copper in February. "Most physical traders here believe that copper prices are biased up, and end consumers feel comfortable with stockpiling at the current price," says dealer in Shanghai. Benchmark May contract at CNY58,720/ton, +CNY1,210. LME 3-month at $6,300/ton, +$40 from PM kerb.