LME copper to resume uptrend short-term, rally towards $7,000/ton as strong underlying fundamentals support further gains, says JP Morgan. Notes LME 3-month copper hit 3-month high Friday at $6,865/ton before retreating in afternoon, characterizes retreat as market pause rather than downward turn. Adds, speculative market short so will be forced to cover, physical market looking to buy on dips, global industrial productivity, commodity demand both remain strong. LME 3-month copper last at $6,760/ton, +$40 on London Friday PM kerb.
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