MARKET TALK: China Copper Futures Track LME Rise;Spot Mkt Eyed

Shanghai Futures Exchange copper up a tad thanks to overnight gains in LME 3-month contract, steadying China equities market. LME 3-month tipped to continue consolidation this week, with strong support around $5,900, resistance at $6,300, says Shanghai trader; "market participants are closely eying local cash premiums to see whether the large amount of imports can be absorbed by consumer buying." Benchmark May SHFE contract +CNY210 at CNY56,170/ton; LME 3-month copper at $6,010/ton, +$35 vs PM kerb.