US copper futures trimmed their losses Tuesday morning in response to surprisingly strong data from the US housing sector that reinforced recent views that the recession was easing.
Copper for July delivery was down 0.80 cent at $2.3110 a lb by 10:46 am EDT (1446 GMT) on the New York Mercantile Exchange's COMEX division. Session range from $2.28 to $2.3530, which marked a new high for the benchmark contract dating back to October 14. COMEX estimated futures volume at 9,214 lots by 10 am.