US copper futures settled up at a two-month top early on Thursday, with a supportive backdrop of improving fundamentals and strong technical momentum driving the advance, analysts said. Copper for September delivery jumped 7.15 cents, or 2.3 percent, to finish at $3.1645 per lb on the COMEX metals division of the New York Mercantile Exchange. Highest closing level since May 27.
Range from $3.0475 to $3.1925. COMEX estimated final copper futures volume at 48,462 lots by 1 pm EDT (1700 GMT). Final volume on Wednesday at 53,447 lots. Open interest up 165 lots at 132,876 contracts open as of July 21.