MARKET TALK: China Copper Futures Slide; May Consolidate N/T

Copper futures on Shanghai Futures Exchange sharply lower amid some concern strong China 1Q GDP, CPI data yesterday after market close may trigger tightening measures; "we're likely to see copper consolidate in the near term," says Yong'an Futures analyst Wu Jianjian, noting though strong growth in China likely signals continued solid demand for copper, potential for China tightening taken as "a trigger for a downward correction, given strong gains recently." May be further cues from China stocks, which have opened mildly higher. Benchmark July contract at CNY72,500/ton, down CNY1,890, or 2.5%. LME 3-month at $7,825/ton, +$15 vs PM kerb.