MARKET TALK: LME Copper Fundamentals Improving, Gains Seen

Evidence of increasing Chinese copper imports and a realization that the apparent weakness in demand at the end of last year was "largely a mirage caused by destocking," shows the market fundamentals are improving, says BaseMetals analyst Will Adams. "If sentiment swings more bullish again, which we think is starting to happen, then we would not be surprised to see copper accelerate to the upside, especially if there are more shorts caught up in the market," he adds. LME copper is last at $6325 a metric ton, +1% on the day.