US copper futures ended barely lower on Thursday, then moved firmly into positive territory in after-hours trade when US equity markets rallied, as recent selling drew investors looking for places to work their cash. Copper for July delivery closed down 0.40 cent at $2.0270 a lb on the New York Mercantile Exchange's COMEX.
July copper fell overnight to $1.9670, last seen on April 29, from a high of $2.0365 a lb. COMEX estimated final copper trading volume at 19,032 lots compared with 21,003 lots on Wednesday. Open interest fell by 2,074 lots to 106,396 open contracts as of May 13.
COMEX copper stocks added 385 short tons to 49,232 short tons as of Tuesday. LME copper for three-months delivery ended with slight gains at $4,445 per tonne, from $4,441 a tonne at Wednesday's kerb close.