MARKET TALK: LME Copper May Target $8,250-8,350 Band-JP Morgan

LME copper likely to continue to consolidate within recent ranges ahead of test of key resistance between $8,250, $8,350, says JP Morgan. Dips below $8,000 should be bought up by physical market, LME stock's declining trend favorable to higher prices, while global demand should be strong given solid global industrial productivity, recent purchasing managers indexes, shipping rates. However, cautions China's physical market still needs to digest its massive first quarter imports. LME 3-month copper last at $7,820/ton, down $60 on London PM kerb.