MARKET TALK: China Copper Futures Sharply Up On LME Gains

Copper futures traded on Shanghai Futures Exchange sharply up, thanks to strong gains in LME 3-month overnight; but "local market sentiment remains fragile...participants doubt if such gains can hold", says Maike Futures analyst Shen Haihua. Notes still need to pay close attention to LME copper stocks, as indication of fundamental change. Benchmark April contract at CNY50,990/ton, +CNY990. LME 3-month at $5,485/ton, +$15 from PM kerb.