MARKET TALK: Shanghai Futures Exchange Copper Stocks May Jump

Shanghai Futures Exchange report on warehouse stocks, due out just after market close, may show jump in copper inventories as week-long Labor Day holiday May 1-7 curbed spot market buying, analysts say; some estimating a 17,000-ton rise. SHFE copper stocks at 67,820 tons as of April 27. Speculation of rise in stockpiles weighing on SHFE copper futures, analysts say; benchmark July contract down CNY2,420, or 3.3%, at $69,900/ton. LME 3-month at $7,820/ton, down $60 from PM kerb.