Responding to strong US durable goods orders, COMEX copper prices turned higher Thursday morning after an early tussle over direction ensued between fund buyers and speculative sellers, traders said. But brokers said volume was light and most players were preparing to wrap up the holiday-shortened session.
New York commodity markets will be closed Friday to observe Christmas, which falls on a Saturday this year. COMEX copper trading ends an hour early on Thursday.
Benchmark March copper futures on the COMEX division of the New York Mercantile Exchange rose 0.35 cent to $1.4130 a lb. The range dipped to $1.3960 from $1.4250 at the high.
Spot December was even at $1.4750, and a few other contracts traded from down 0.40 to up 0.30 cent. COMEX estimated 10:00 am EST (1500 GMT) copper volume at 3,000 lots.
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