MARKET TALK: China Trade Data Support LME Copper

Chinese preliminary trade statistics for copper imports support LME copper, with China importing the most metal on a monthly basis since September 2005, says analyst Michael John Cuoco at Mitsui Bussan. Adds imports on a cumulative basis for 2006 still almost 20% below total amount for 2005 at 1.93 million tons vs 2.40 million tons due to higher international prices, growing domestic output. Market expects stronger consumption in months ahead. LME 3-month copper trades at $5,830/ton, down $69 on yesterday's PM kerb.