LME copper has "good chance" of hitting $8,000/ton given current strong sentiment but rally looks overdone in short-term, says Hong Kong-based trader. Market is divided on drivers for rally to 6-month high of $7,795/ton earlier, with traders citing short-covering, some Chinese interest for LME catch up to Comex, Shanghai Futures Exchange. "Funds sparked the rally last week but this morning there hasn't been much fund interest," trader says. LME 3-month copper last $7,770, +4.5% vs Thursday PM kerb.
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