MARKET TALK: LME Copper Under Pressure After SHFE Stock Rise

A large rise in copper stocks at warehouses in Shanghai is keeping LME prices under pressure, says a London broker, noting Chinese consumers are relatively well-stocked. Reduced credit availability in China is also adding to pressure on the local market there, with domestic prices at a discount to the LME but still failing to attract buyers, he adds. LME copper is last at $7800 a metric ton, -3% on the day. (ADH) overnight.