US MIDDAY: copper surges

21 Mar, 2009

US copper futures rose early to a 4-1/2-month peak as a rebound in the dollar and a huge jump in London stockpiles produced a pause in the rally, traders said. Copper for May delivery was up 0.85 cent at $1.8160 a lb by 10:22 am EDT (1422 GMT) on the New York Mercantile Exchanges COMEX division. Morning range from $1.7870 to $1.8530, a new high dating back to November 10. For the week, benchmark May contract up over 11 percent.

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