MARKET TALK: LME Copper Sentiment Firms On Overnight Bounce

LME 3-month copper last at $5,450/ton, +$35 on London PM kerb, sentiment firming after copper bounced from lows overnight to end just $5 lower, spurring gains on Shanghai Futures Exchange copper today, says Maike Futures' Shen Haihua. Notes copper sentiment improved after metal hedge fund Red Kite yesterday won approval from its investors to extend redemption period, calming fears of possible long liquidation. Adds, spot premiums in Shanghai still healthy but softening as physical activity declines ahead of Lunar New Year.