US copper futures rose to a one-week high on Tuesday, gaining momentum from a sharp rebound on Wall Street, but further upside seemed unlikely due to bleak economic conditions and a grim demand outlook, brokers said. Copper for March delivery firmed 5.00 cents, or 3.5 percent, to settle at $1.4870 a lb on the New York Mercantile Exchange's COMEX division.
Session range from $1.4120 to a one-week high at $1.5020. COMEX estimated electronic futures volume at 21,823 lots by 1 pm EST (1800 GMT). Final volume on Monday hit 23,976 lots.