Softness in LME prices likely to be short term, says Standard Bank, with most metals expected to reestablish uptrend given low and falling inventories, expectations of strong China demand; copper, though, could slip further in current consolidation period before a move higher. Says rising Shanghai Futures Exchange copper stocks a source of concern; notes weekly figures due out today and expectations of another increase to weigh on fragile market, may elongate corrective phase. LME copper last at $7,835/ton, down $45 vs PM kerb; complex took a tumble overnight on technically driven selling, stronger USD vs EUR.
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