US copper futures erased earlier losses to end up near a 5-1/2 month peak on Tuesday, as the dollar slumped and prospects for additional monetary easing grew in response to weak consumer confidence data. Copper for December delivery rose 4.00 cents, or 1.1 percent, to close at $3.6370 per lb on the COMEX metals division of the New York Mercantile Exchange.
Range from $3.5690 to $3.6395, just shy of Monday's peak of $3.6440, which marked the highest level for the fourth position futures contract since mid April. COMEX estimated final copper futures volume at 27,122 lots versus Monday's count at 24,181 lots. Open interest down 512 lots at 146,701 contracts as of September 27.
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