LME 3-month copper slightly lower on London PM kerb at $5,480/ton, down $49, though short-term uptrend intact as overnight gains extend recent rally, says Tokyo-based trader. Adds copper strength mostly coming not from stronger China consumption but from fund buying, as gains in precious metals, energy prompt funds to cover shorts; notes LME trading by Chinese consumers not up sharply despite reports of stronger China consumption. Tips copper to test higher in short-term but says it lacks strength to break through $5,885, $6,000 and $6,400; expects it to stick to $5,450-6,000 range.
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