LME copper's price trend seems "unstoppable" on fund buying despite having run very high already, says Standard Bank; notes different supportive factors currently converging, namely strong Chinese demand, long-term fund buying, dollar weakness, supply disruptions. "Bulls get at the best of their momentum when they see all these drivers together and from this point of view Copper is the chosen one, once again." Market concerned over potential disruption at Grasberg mine. LME 3-month copper trades at $8,005/ton, down $43 on profit taking vs yesterday's PM kerb.
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