US copper futures ended up after hitting a new 15-month peak on Wednesday, as receding concerns about Dubai's debt and a string of upbeat data this week reinforced economic and demand recovery optimism in 2010. Copper for March delivery ended up 2.75 cents at $3.2585 a lb on the New York Mercantile Exchange's COMEX division. Range from $3.2075 to $3.2730, a new high dating back to late August 2008.
Copper up in strong technical rebound from key support at 20-day moving average near $3.10 on Friday - Charles Nedoss, senior account manager and metals analyst. COMEX estimated futures volume at 20,243 lots by 1 pm EST (1800 GMT). Final volume on Tuesday hit 27,185 lots. London Metal Exchange (LME) copper stocks up another 2,000 tonnes to 443,000 tonnes, their highest level since April.
COMEX copper warehouse stocks rose by 1,304 short tons to 86,995 short tons as of Tuesday. World No 1 copper producer Chile sees copper prices staying at "good levels" in coming months despite high inventories. LME three-month copper ended up $50 at $7,125 a tonne.
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