MARKET TALK: LME Copper Flat; May Find Support From SHFE

LME 3-month copper at $6,930/ton, unchanged from London PM kerb in quiet session; may draw support at London open from gains in SHFE copper, which up as sentiment strengthens on bigger physical premium vs cash copper, strong physical interest below CNY65,000, says Star Futures' Jerry Wei. Adds market expects forward contracts to rise, given fresh buying on forward SHFE futures, physical dealers holding on to stocks in expectation of higher prices. SHFE most active copper +CNY470 at CNY64,160/ton.