US copper hits $4.00/lb as momentum drives rally

NEW YORK, April 7 (Reuters) - U.S. copper futures at the New York Mercantile Exchange's COMEX division ended up after touching the psychological $4.00 a lb level on Monday.

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* Active May copper HGK8 ended up 2.50 cents at $3.9795 a lb. Range was $3.9320 to $4.00.

* By 1 p.m. EDT (1700 GMT), futures volumes were estimated at 23,477 lots. On Friday, final volumes totaled 22,035 lots.

* Copper open interest up 535 lots at 103,852 contracts open as of April 4.

* Strong technical momentum seen behind red metal's push higher - analyst.

* Trade data from the Commodity Futures Trading Commission on Friday adds to the metal's stronger tone - analyst.

* Noncommercial net long position in COMEX copper futures grew 27 percent to 9,581 lots in the week to April 1, compared with 7,555 contracts a week earlier. [ID:nN04227475]

* Copper gains ground despite ongoing U.S. economic growth concerns, highlighted by Friday's unexpectedly large decline in March U.S. payrolls. [ID:nN04420853]