US copper futures ended lower Monday as prices paused after hitting five-month highs, but upside momentum should reassert itself in the days ahead due to a tightening market balance, analysts said. Copper for December delivery dipped 2.10 cents to end at $3.5970 per lb on the COMEX metals division of the New York Mercantile Exchange.
Range from $3.5880 to $3.6440, a new high for the fourth position futures contract dating back to mid April. COMEX estimated final copper futures volume at 21,149 lots, down from the 26,800 lots recorded on Friday. Open interest up 1,548 lots at 147,213 contracts as of September 24.