The price of copper shot up to a 5-1/2-week high above $2.95 a lb in New York futures trade on Monday, driven by strong investment money flows and currency-related buying as the dollar remained depressed and near 14-month lows against the euro. Copper for December delivery rallied 12.10 cents, or 4.3 percent, to settle at $2.9665 a lb on the New York Mercantile Exchange's COMEX division.
Range from $2.8055 to $2.9690, its loftiest level since September 9. COMEX estimated futures volume at 31,591 lots by 1 pm EDT (1700 GMT). Final volume on Friday at 21,353 lots.