MARKET TALK: LME Copper Surge Won't Deter Chinese Buying

LME copper's surge beyond $7,000/ton to 4-month high $7,270 overnight won't deter Chinese buying due to low consumer inventories, says National Australia Bank analyst Gerard Burg. Notes Chinese consumers need to keep buying to maintain output of copper products; adds book squaring before Easter weekend could pare some gains. LME 3-month copper last trades at $7,240, up $10 vs yesterday's PM kerb.