LME copper's technical outlook "constructive," likely to draw momentum players into trade, says Standard Bank. LME 3-month's breakout above 100-day moving average overnight to 10-week high, widening of backwardation between cash and 3-month contract to $75 setting copper up for further gains short term; adds fundamentals supportive as well, as bulls bought heavily overnight on belief China consumers restocking, China copper output constrained by shortage of copper concentrate. LME 3-month copper down $40 vs London PM kerb at $6,500/ton on end-week profit-taking.
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