COMEX copper futures climbed over 5 percent by midday Thursday in a speculative short-covering rally following the market's recent pullback from record highs.
At 11:48 am EDT (1548 GMT), copper for July delivery was up 18.40 cents at $3.24 per lb, a session peak, on the New York Mercantile Exchange's (NYMEX) COMEX division. The life-of-contract high of $4.04 was set on May 11.