Copper finished firm on Friday, reacting to upbeat data from the United States and Europe that helped restore some market confidence and economic recovery optimism. In New York, the July COMEX copper contract rose 1.30 cents to settle at $3.9835 per lb, but remained pinned beneath its 200-day moving average at around $4.01.
With prices under pressure, open interest in COMEX copper continued to erode from its January peak, falling nearly 30 percent to its lowest since October 2009.