US copper futures steadied early Friday, as prices consolidated from this week's sharp breakout above $3.00 per lb, while new labour threats in Chile, the world's biggest supplier, offered support against a stronger dollar. Copper for December delivery up 0.70 cent to $3.0880 a lb by 10:30 am EST (1530 GMT) on the New York Mercantile Exchange's COMEX division.
Ranged from $3.0515 to $3.1145. On Wednesday, December contract hit $3.1720, highest level since late September 2008. COMEX estimated futures volume at 13,983 lots by 10 am. Copper supported by widespread threats of labour action against BHP Billiton's operations in Chile. Copper holding up despite bearish backdrop of stronger dollar, rising stockpiles, and equity market weakness, said traders.