MARKET TALK: China Copper Futures Sharply Down; Track LME

Copper futures traded on Shanghai Futures Exchange sharply lower, following overnight profit taking in LME 3-month copper. "(Domestic) consumer buying is quite good at the moment, if imports, as people expected, do slow down in April, we're likely to see the discount (of cash prices to the front-month futures contract) diminish in the coming month," says trader in Beijing. Benchmark July contract at CNY71,150/ton, down CNY1,450.