MARKET TALK: China Copper Imports Surprise On Upside

China's March copper imports larger than expected, should be supportive to prices and may raise market's expectations of China's imports in April, says Shanghai-based trader at major copper trader. Estimates China's copper cathode imports in March roughly 180,000-200,000 tons. "I think this reflects strong demand from China and should be quite supportive to copper prices." Adds, prices may rise at London opening but may pullback afterwards, next resistance at $8,000 but this largely a psychological resistance, daily LME stock data unlikely to decisively sway price direction unless larger than 1,000 tons. LME 3-month copper at $7,765/ton, +$435 on London Thursday PM kerb.