US copper ends up in recovery rally ahead of Fed
NEW YORK, June 24 (Reuters) - U.S. copper futures closed sharply higher on Wednesday, extending a bounce from the prior session's three-week low, as an unexpected jump in durable goods orders lifted prices ahead of a Federal Reserve interest rate decision and policy statement.
For detailed report on global copper markets, click on [MET/L]
* Copper for September delivery HGU9 advanced 6.90 cents, or 3.1 percent, to settle at $2.2810 a lb on the New York Mercantile Exchange's COMEX division.
* Session range from $2.1740 to $2.3020.
* On Tuesday, the benchmark September contract hit a session trough at $2.1235, its lowest level since May 28.
* COMEX estimated futures volume at 19,212 lots by 12 p.m. (1600 GMT). Final volume on Tuesday at 29,496 lots.
* Open interest slipped 3,830 lots to 109,536 contracts open as of June 23.
* Copper was driven higher by economic prospects after data showed U.S. durable goods orders unexpectedly jump 1.8 percent in May. [ID:nCAT002709]
* Copper market shrugs off data showing sales of newly built U.S. single-family homes slipped in May. [ID:nN27EWHOME] Continued...
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