MARKET TALK: China Copper Futures Steady As LME Holds Ground

Copper futures traded on Shanghai Futures Exchange little changed from yesterday's settlement prices, after LME 3-month found support around $5,900 overnight. "This is a good sign - although there was pressure from equities markets, speculators chose to look at copper's own fundamentals," says Shanghai trader; adds if LME 3-month can continue to hold above $5,900, despite volatility in other markets, preliminary China import data for February, which due in a week or so, may drive prices up. Benchmark May contract last at CNY55,810/ton, +CNY140. LME 3-month at $5,915, +$26.