LME 3-month copper at $6,730/ton, +$70 vs late kerb, with dips still viewed buy opportunities; analysts say recent major support trends intact, notably strong China demand, with LME stocks overnight extending decline from mid-February. These factors underpin belief that "at the moment, there is a bit of momentum behind the copper price," says Commonwealth Bank of Australia commodity strategist David Moore, though warns greater uncertainty about U.S. economic growth flowing from housing sector, cited overnight by Bernanke, could retard price rise. Gains in oil, gold, and copper stocks decline "should open the door for a fairly substantial copper rally," predicts A.G. Edwards futures analyst Dan Vaught.
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