MARKET TALK: China Copper Futures Mixed;May Rise In Afternoon

Copper futures on Shanghai Futures Exchange mixed midday, following losses on LME overnight, though contracts not down as much as LME, say traders. Nearby contracts up, forwards down; most active July contract down CNY19 at CNY73,060/ton. LME 3-month contract up $101 at $7,830/ton. Star Futures' Jerry Wei says SHFE copper futures likely to rebound in afternoon to around +CNY200 as sentiment firm on SHFE's resilience despite LME losses, expectations LME 3-month copper will test $8,000 short-term.