US copper futures returned to the upside early on Wednesday after higher-than-forecast US factory orders data were released, reversing declines from a light profit taking spree ahead of the long US holiday weekend, traders said.
Copper for September delivery recovered after earlier losses, firming 0.95 cent to $3.92 a lb on the New York Mercantile Exchange's COMEX division. The session range spanned $3.8775 to $3.93 which marked the contract's highest level since its May 5 peak at $4.22. Spot July copper rose 1.35 cents to $3.9360. Earlier, it extended its high to $3.9345. The session low was also higher at $3.8920.
Comments
Comments are closed.