US copper futures rally on economic outlook, China

NEW YORK, March 26 (Reuters) - U.S. copper futures jumped over 4 percent early Thursday as talk of a possible pick-up in Chinese demand drove the bullish sentiment.

For detailed report on global copper markets, click on [MET/L]

* Copper for May delivery HGK9 surged 5.90 cents, or nearly 3.3 percent, to $1.8620 a lb by 10:17 a.m. EDT (1417 GMT) on the New York Mercantile Exchange's COMEX division.

* Morning range from $1.7975 to $1.8770.

* On Tuesday, benchmark May contract climbed to highest level since Nov. 5, at $1.8790.

* COMEX estimated futures volume at 6,174 lots by 9 a.m.

* COMEX copper buoyed by upbeat U.S. economic data this week and demand optimism from China. the world's largest consumer of the metal - Steve Platt, futures analyst with Archer Financial Services in Chicago.

* Mining giant Rio Tinto (RIO.L) (RIO.AX) said it expects metal prices to rise in the second half of this year, helped by China's economic stimulus package, which will boost infrastructure spending. [ID:nSP408664]

* Unexpectedly strong housing and durable goods data on Wednesday seen driving metal prices higher on investor hopes the economy may be seeing some signs of life. [ID:nN25415362]

* Copper tracks higher open on Wall Street after reports on fourth quarter economic growth and weekly jobless claims figures came in roughly in line with market expectations. [ID:nN26447514]

* Copper additionally supported by a weakness in the dollar .DXY - Platt.

* London Metal Exchange (LME) warehouse stocks <LME/STX1> rose by 225 tonnes on Thursday, bringing total inventory levels to 503,900 tonnes.

* Canceled warrants -- material earmarked for delivery -- fell to 19,675 tonnes from 22,425 tonnes on Wednesday.

* COMEX copper warehouse stocks increased 302 short tons to 44,763 short tons as of Wednesday.

* Japanese copper wire and cable shipments in the year to March 2010 are expected to fall to a 34-year low, an industry association said. [ID:nTKX004194]

* Japan's output of rolled copper products fell to 37,381 tonnes in February on a seasonally adjusted basis, down 58.5 percent from a year earlier. [ID:nT374729]

* South Korea has bought 6,000 tonnes of refined copper, 300 tonnes of tin ingot and 200 tonnes of nickel cathode, an official at the state-run Public Procurement Service said on Thursday. [ID:nSEO303929]

* LME copper for three-months delivery MCU3 was last at $4,100 a tonne, up $110 from Wednesday's kerb close. (Reporting by Chris Kelly; Editing by John Picinich)