Copper

0437 GMT [Dow Jones] LME copper bullish in short term, likely to target $6,000/ton, as recent China copper import data supportive, market expecting Chinese buying to strengthen after Lunar New Year, stock levels in Asia to become "very tight," says trader at Japanese house. But adds LME 3-month copper needs to break above $6,000 to confirm uptrend, trigger fresh short-covering; "if it's below $6,000 at the end of the Lunar New Year, it will return to below $5,500." LME 3-month copper +$60 vs London PM kerb at $5,780/ton, after falling $29 overnight on jump in LME copper stocks. (MWL)