MARKET TALK:China Copper Futures Sharply Up, Tracking LME

Copper futures traded on Shanghai Futures Exchange sharply up on heels of strong gains in LME 3-month copper overnight. "We were ahead of LME 3-month in rising yesterday, but given its 4.5% rise last night, SHFE copper is near the 4% limit-up," says Shanghai trader. Adds people eyeing LME electronic trading for more cues, prices likely to continue to be volatile. Benchmark March 2007 contract at CNY54,250/ton, up CNY1,860.