US copper futures at the New York Mercantile Exchange's Comex division rebounded off their worst levels early Tuesday, with better-than-expected US economic data boosting sentiment. Active May copper was down 7.65 cents or nearly 2 percent at $3.7545 per lb by 10:18 am EDT (1418 GMT). Range was $3.7090 to $3.8250.
Futures volumes estimated at 7,891 lots by 9:00 am. Copper in slight rebound from earlier losses on the back of better-than-expected US construction spending data and ISM data. US construction spending fell 0.3 percent in February for the fifth straight monthly decline and hit the lowest annual rate since mid-2005, but was better than expectations for a decline of 1 percent.
The Institute for Supply Management said its index of national factory activity edged up to 48.6 in March from 48.3 in February, well above consensus estimates at 47.5. The reading was still below the level of 50 which separates growth from contraction. Grupo Mexico sees copper output down at its giant Cananea mine as striking workers continued to block temporary contractors from entering the pit.