Copper futures gained on the dollar's losses early Friday after data showed the US economy grew at a slower pace than expected late last quarter, traders said. "The weaker dollar and GDP numbers are what lent to the firmer tone in copper," said one copper trader.
At the COMEX division of the New York Mercantile Exchange, benchmark March copper was up 1.00 cent at $1.4370 per lb, in a range that rose to $1.4450 after the government said the economy grew at a weaker-than-expected annual pace last quarter. The low was $1.4260 a lb.
Spot January charged 1.65 cent higher to $1.4625. Only a few other contracts traded in early business and were up from 0.30 to 1.00 cent. A COMEX broker said business on the floor had picked up to a brisker pace than in recent sessions.