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MARKET TALK: Chinese Data May Give S/T Lift To Copper -CBA

Wednesday, Apr 18, 2007
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Chinese 1Q GDP data due tomorrow may fuel gains in copper, other base metals, as 1Q GDP growth likely strong around 10.4%, in line with 2006 4Q GDP, says Commonwealth Bank of Australia. "Chinese GDP growth, in line with, or stronger than, expected by analysts may be taken by base metals markets as further confirmation that the broad demand environment for most base metals is likely to remain healthy." LME 3-month copper +$7 on London PM kerb at $8,055/ton; aluminum down $10 at $2,880; zinc $19 lower at $3,700.

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