Copper futures in New York closed near their session highs on Friday as traders concentrated on rolling positions forward while the tense labour strike at Chile's giant Escondida copper mine continued to offer support, sources said.
Active December copper ended up 1.25 cents at $3.4315 a lb. on the New York Mercantile Exchange's COMEX division, just off the upper end of its $3.40-$3.45 trading band. Floor dealers placed near-term support in December copper at around the $3.3550-$3.36 level, with resistance seen at the $3.50-$3.52 area.
Copper for September delivery settled up 1.40 cents at $3.4425 a lb., after dealing from an intra-day low at $3.41 to $3.4540.
Spot August rose 1.50 cents on the day to $3.4550. Final volume was estimated at 12,000 lots, with close to 1,639 lots of spreads trading hands, ahead of September copper's first notice day next Thursday.