US copper ends at 13-1/2-month high on dollar-led rally

NEW YORK, Nov 16 (Reuters) - The price of copper surged to a
13-1/2-month peak above $3.10 per lb in New York futures trade on Monday,
with a weaker dollar, mounting supply concerns, and a growing confidence in
the global economy driving the rally.

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

* Copper for December delivery HGZ9 rallied 13.10 cents, or 4.4
percent, to settle at $3.1035 a lb on the New York Mercantile Exchange's
COMEX division.

* Range from $2.9725 to $3.1170 -- highest level since late September
2008.

* COMEX estimated futures volume at 53,970 lots by 1 p.m. EST (1800
GMT). Final volume on Friday hit 37,735 lots.

* Copper swept up in dollar-induced rally across broader commodity
complex - traders

* Reuters-Jefferies CRB index .CRB up nearly 3 percent on back of
weaker dollar. [USD/]

* Copper buoyed by economic optimism after data showed
stronger-than-expected U.S. retail sales in October and unexpected jump in
Japanese economic growth in the third quarter - analysts. [ID:nN16507114]
[ID:nT339912]

* Heavy snow in northern China and a big rise in annual copper premiums
for the world's largest metals consumer, China, provided additional boost
to copper prices. [ID:nPEK129447]

* Chile's Codelco, the world's top copper producer, has raised term
premiums for refined copper to China by $10 per tonne to $85 per tonne for
delivery in 2010. [ID:nPEK158133]

* London Metal Exchange warehouse stocks rose by 2,825 tonnes to
406,450 tonnes, their highest since late April. <O#LME-STOCKS>

* COMEX copper warehouses took in another 1,321 short tons to 70,675
short tons as of Friday. CMWSU

* Money managers were net long on 9,117 contracts of copper futures for
the week ended Nov. 9 - data from the Commodity Futures Trading Commission.
[ID:nN13482625]

* LME three-month copper MCU3 rallied $335 to close at $6,855 a
tonne, likewise a peak dating back to late September 2008.
(Reporting by Chris Kelly; Editing by John Picinich)