US copper futures tiptoed into positive territory early on Tuesday, after a steep drop in US pending home sales dragged the dollar down and an increase in factory orders bolstered recovery hopes in the manufacturing sector.
Benchmark copper for March delivery edged up 0.75 cent at $3.4135 per lb by 10:44 a.m. EST (1544 GMT) on the New York Mercantile Exchange's COMEX division. Range from $3.3820 to $3.4215. On Monday, COMEX copper rallied to a $3.4290 per lb session peak, its highest level since August 2008. COMEX estimated futures volume at 10,541 lots by 10 a.m.