MARKET TALK: China Copper Futures Tad Down On LME 3-Mo O/N

Copper futures traded on Shanghai Futures Exchange tad lower on losses in LME 3-month copper overnight; but "the bullish outlook of copper prices keeps SHFE copper being traded at a premium to LME copper. Besides, traders believe fewer imports in the month, along with strong demand, is alleviating pressure on the domestic spot market", says Hu Bin, analyst with Yong'an Futures. Benchmark July contract at CNY75,200/ton, down CNY410. LME 3-month at $8,015/ton, +$30 from PM kerb.