0316 GMT [Dow Jones] China base metal trade data show June copper imports down 19.6% on month at 75,707 tons. Drop in imports reflects unattractive arbitrage between LME prices, Shanghai Futures Exchange, lower domestic prices in China discouraged imports, says HK-based trader. Market in Asia so far subdued, LME copper could trade lower in London later as market concerned about slow demand in China; upside bias from looming strike at Southern Copper in Peru removed. Copper support at $8,080/ton, resistance at $8,250, then $8,350. LME 3-month copper at $8,170, up $50 vs PM kerb.(EFB)
will the rally continue, page-15
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