US copper futures climbed more than 3 percent at the open on Thursday, echoing a rebound in equity markets, as investors moved in to buy at lower levels following sharp losses in the complex, traders said. Copper for December delivery was trading up 3.80 cents, or 1.6 percent, at $2.3930 a lb by 10:29 am EDT (1429 GMT) on the New York Mercantile Exchange's COMEX division.
The early range ran from $2.3250, its lowest level since February 2007, to a high of $2.4375. Spot October firmed 6.00 cents at $2.4265. COMEX estimated futures volume at a sleepy 2,676 lots by 9 am.
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