London coffees closed higher on Friday boosted by trade buying and structural activity but dealers said gains would be limited in the short term and the market remained range-bound.
Firmer New York futures helped to push a weak London market into positive territory in subdued trade, although they remained in a narrow range as producer offers weighed on prices.
Dealers said actual producer selling was thin but hefty offers hanged above the market as some origins had adjusted down their price expectations over the past few days.
"We have tested both the top and the bottom end of the range this week, so I think we are still in a range. In New York this would be between 78.30 (cents per pound) and 69.85, and we are now in the middle," a trader said.
"London is now just following New York and I think the activity of the day has mainly been book squaring."
Benchmark July closed $3 up at $711 a tonne, having moved in a narrow $713-704 range on 1,798 lots, out of a total turnover of 3,418.
Most active September ended $2 up at $726 on 1,241 lots.
July/September traded actively and remained flat at a $15 discount from Thursday.
Players eyed the next Brazilian coffee auction to be held next Wednesday, after the previous one found good demand from roasters, who seemed to prefer coffee from the 2003/04 crop than the older one in stocks.
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