US copper futures ended unchanged on Monday, after a light selloff by funds was superseded by bargain hunters at the lows, traders said. "The selling came from last-minute funds trying to get out of long positions, and then bargain hunters bought it back up. But it was kind of quiet," said one copper trader. Spot April fell 0.10 cent to $1.4620 per lb. The rest ended between unchanged and 0.65 cent higher. Traders said rollover business pressured may futures as some players exited those positions and added to their July copper holdings.
Nonreportable net long positions increased to 3,983 lots from 3,446 contracts. London Metal Exchange three-months copper finished the on Monday evening kerb even at $3,182 a tonne, in a $3,155 to $3,185 range.
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