MARKET TALK: LME Copper Pent-Up Demand After Destocking

LME copper has "considerable" pent-up demand after "many months of destocking" as highlighted by the fall in China's copper imports and China State Reserve Bureau sales, says Will Adams at BaseMetal.com. But following the break of major support at $7,000/ton and retreat to a 5-month low, buyers will be reluctant until prices fine a base, he says. LME 3-month copper trades at $6,910/ton, down $10 on the Friday PM kerb.