US copper futures surged over 9 percent early Tuesday after a global effort to inject capital into beleaguered banks and thaw frozen credit markets sparked another rally in financial markets. Copper for December delivery traded up 15.0 cents, or 6.75 percent, at $2.4685 a lb by 10:04 am EDT (1404 GMT) on the New York Mercantile Exchange's Comex division.
The morning range spanned $2.3430 to $2.5295. On Friday, the metal sank to a 30-month low of $2.05. Spot October firmed 13.40 cents, or nearly 5.8 percent, to $2.4620 a lb. Comex estimated futures volume at 7,027 lots by 9 am.
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