MARKET TALK: LME Metals Correction Temporary - Standard Bank

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.