US copper ends down in muted response to jobs data
NEW YORK, May 8 (Reuters) - U.S. copper futures ended in a lower band of consolidation on Friday in a muted response to generally upbeat government data showing a smaller-than-expected payroll drop in April.
For detailed report on global copper markets, click on [MET/L]
* Copper for July delivery HGN9 slipped 1.90 cents to settle at $2.1455 a lb on the New York Mercantile Exchange's COMEX division.
* Session range from $2.1310 to $2.2060.
* Trade encapsulated within previous session's trading range.
* Technical resistance at the $2.24 a lb April peak seen capping an early-morning advance - Frank McGhee, head precious metals trader with Integrated Brokerage Services LLC in Chicago.
* Hard technical breakout seen above $2.23-$2.24. Tremendous amount of new short-covering and new technical buying expected if market breaks above that level - McGhee.
* COMEX copper up nearly 13 percent from most-recent low at $1.9005 in late April.
* COMEX estimated futures volume at 8,251 lots by 10 a.m. EDT (1400 GMT). Final volume on Thursday hit 17,736 lots. Continued...
One Year Later
Mumbai held tearful memorials and police staged a show of strength as it marked the first anniversary of militant raids that killed 166 people and pushed up tensions with Pakistan. Slideshow | Full Coverage
