US Copper Settles up with Help from Global Shares

NEW YORK, Sept 8 (Reuters) -

U.S. copper futures ended
higher on Wednesday, recovering from earlier losses along with
rising stock markets as investors grew less worried about
European banks.

Copper for December delivery HGZ0 rose 3.00 cents, or
0.86 percent, to settle at $3.5005 per lb on the COMEX metals
division of the New York Mercantile Exchange.

On Tuesday, benchmark December contract hit a four-month
peak at $3.5345 per lb.

COMEX estimated final copper futures volume at 29,098
lots, versus Tuesday's final count of 29,640 lots. IZQI

Open interest down 2,840 lots to 137,079 contracts as of
Sept. 7.

Copper up with U.S. and European equity markets after
successful Portuguese debt auction eased concerns about
European banks and sovereign debt. [ID:nLDE68718K] [MKTS/GLOB]

Copper price reflecting slower global growth scenario
versus prospect of double-dip recession - Frank Lesh, broker
and futures analyst with Future Path Trading in Chicago.

Copper supported by bullish supply trend in London
warehouse stock levels - Lesh.

London Metal Exchange (LME) copper warehouse stocks down
975 tonnes to 394,500 tonnes. Stockpiles down nearly 30 percent
from 6-1/2-year high at 555,075 tonnes in mid-February.

COMEX copper warehouse stocks off 225 short tons at
94,821 short tons as of Sept. 7

New clashes between unionized workers and company contract
workers have broken out at the massive Cananea copper mine in
northern Mexico, owned by Grupo Mexico (GMEXICOB.MX).

LME copper CMCU3 closed at $7,675 per tonne from $7,629
at the close on Tuesday.