US copper futures climbed to a one-week high early Wednesday, as the dollar extended its recent slide and market sentiment improved after a renewed pledge from the Federal Reserve to keep rates low for an extended period. Copper for May delivery firmed 4.70 cents to $3.4120 per lb by 10:15 am EDT (1415 GMT) on the New York Mercantile Exchange's COMEX division.
Range from $3.3715 to $3.4360, its loftiest level since March 10. COMEX estimated copper futures volume at 9,603 lots by 9 am. Copper up with broader commodity complex on extended dollar slide after US Federal Reserve pledged to keep interest rates near zero for an "extended period". Copper gains capped after larger-than-expected fall in US producer prices in February helped dollar recover earlier losses against the euro. COMEX copper stocks down 263 at 101,875 short tons as of Tuesday.
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