MARKET TALK: LME Copper May Average $6,900 In April -Standard

LME 3-month copper likely to average $6,900/ton in April and "more than capable of making further gains in the second quarter," says Standard Bank. Standard says short-term fundamentals look solid: strong Chinese demand, higher copper premiums in Asia, Europe, steady premiums in U.S. despite weak housing market, accelerating drawdown in LME stocks in March, global supply-demand deficit forecast for 2Q. Adds, with technical indicators pointing higher, copper likely to continue strengthening, though may consolidate at lower levels first. LME 3-month copper last traded at $6,880/ton, +$30 on London Friday PM kerb.