MARKET TALK: China Copper Futures Slide After LME Losses

Copper futures traded on Shanghai Futures Exchange sharply lower, tracking overnight losses in LME 3-month counterpart; "it's likely to see further decline this week, as LME 3-month will test support at $5,400-$5,500 given continuous rises in LME copper stocks," says Shanghai trader. Benchmark March 2007 contract at CNY53,080/ton, down CNY1,080, or 2%; LME 3-month at $5,607/ton, down $8 from PM kerb.