US copper futures added to sharp gains of a day earlier on Thursday as overnight fund buying prompted by a widespread strike at Mexico's mines and refineries spilled over to New York, traders said. They added that business had slowed once the initial flurry of buying activity ran its course.
Copper for May delivery rose 2.85 cents to $2.2640 a lb. on the New York Mercantile Exchange's COMEX division, building on sizeable day-earlier gains. Thursday's range ran up to a high of $2.2680 from a higher low at $2.2180. Spot March was up 2.45 cents at $2.2680 a lb., also moving in a higher range between $2.2315 and $2.2690. The all-time high for spot copper was $2.34 a lb. on February 6.
Copper volume at 10 am was estimated at 3,000 lots.
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