US copper futures closed down on Monday, as investors took profits from earlier rise to five-month highs and looked ahead with caution toward new home sales data and a Federal Reserve policy meeting on Tuesday. Copper for December delivery fell 1.75 cents to finish at $3.5045 per lb on the COMEX metals division of the New York Mercantile Exchange.
Ranged from $3.4945 to $3.5555 - the highest level for the fourth position futures contract since April 26. COMEX estimated final copper futures volume at 17,830 lots, down from the 28,458 lots recorded on Friday. Open interest went up by 892 lots to 143,858 contracts as of September 17.
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