good news for copper

0147 GMT [Dow Jones] Copper futures traded on Shanghai Futures Exchange sharply higher,
tracking overnight gains in LME 3-month copper; "as the domestic supply glut is
easing, the SHFE discount to LME is expected to continue to narrow, though maybe
gradually," says dealer in Shanghai. Adds some physical traders optimistic about
copper price in August-September, when domestic market absorbs earlier imports;
meanwhile, strike news may provide short-term direction to LME 3-month copper. Benchmark
August contract at CNY66,850/ton, +CNY1,340. LME 3-month at $7,626/ton, +$91 from PM
kerb.(HWS)