In New York, COMEX copper for September delivery jumped as much as 1.7 percent midmorning to a fresh one-month high of $1.512 per lb after piercing a 100-day moving average midmorning. It settled 1.1 percent higher at $3.4925 per lb and was on track for its largest weekly gain since mid-July.
"It's difficult to be really bullish given the macro-economic background, but all that news is in the price and there's every likelihood of a fresh stimulus package in the US, plus we're coming into the seasonally strong period for metals demand," Sucden trader Steve Hardcastle said.