Copper rose on Friday, supported by hopes that recent stimulus measures from around the world will boost liquidity and metals demand in a struggling global economy, especially in top raw materials consumer China. "We've skimmed a little froth out of the market in the sense that it probably got a little bit over-bought within a very concentrated period of time against a background of global easing," said Michael Turek, senior director on Newedge's New York metals desk.
In New York, the COMEX December contract rose 3.00 cents to settle at $3.7890 per lb, after dealing between $3.7705 and $3.8095. It held within 2 percent of its own 4-1/2-month peak at $3.8395, hit on Wednesday.
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