US copper futures reversed earlier weakness and headed into positive territory early Wednesday after better-than-expected durable goods and new home sales data brightened investors mood about the economic outlook. Copper for May delivery was trading up 0.10 cent at $1.8070 a lb by 11:00 am EDT (1500 GMT) on the New York Mercantile Exchanges COMEX division.
Morning range from $1.7650 to $1.8220. On Tuesday, the benchmark May contract rose to its highest level since November 5, at $1.8790. COMEX estimated futures volume at 7,061 lots by 10 am.
Comments
Comments are closed.