US copper futures erased earlier losses to end up on Monday, as gains in equity markets and a late slide in the dollar fuelled the reversal and pointed to further upside in the broader metals complex, analysts said. Copper for May delivery ended up 0.80 cent at $3.3805 per lb on the New York Mercantile Exchange's COMEX division. Range from $3.3105 to $3.3890.
COMEX estimated copper futures volume at 31,803 lots by 1 pm EDT (1700 GMT). Final volume on Friday reached 27,313 lots. Open interest down 362 lots at 129,869 contracts open as of March 19. Copper up in sympathy with equities after passage of healthcare reform bill gives boost to big pharmaceutical companies.
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