LME 3-month copper last $6,727/ton, up $6.00 from late kerb close, with immediate outlook positive, say analysts. Standard Bank describes recent price gains for red metal as "mini bull run" with push above $6,800 in Friday's trading "very positive," indicative of warming sentiment. Analysts cite decline in LME inventories over past 5 weeks; strong demand from China. Macquarie Bank says of China "apparent demand show strong and accelerating demand for most commodities in January-February" reflecting recovery in construction activity, end to destocking. Another major market participant puts it as stock drawdowns coinciding with another surge in China's import needs that appear likely to be sustained through 2Q. Standard says price move higher for copper also could entice further short covering.
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