US copper futures end higher, data spur optimism

NEW YORK, Feb 17 (Reuters) - U.S. copper futures ended higher on
Wednesday after hitting their loftiest levels in three weeks, as upbeat
housing and industrial production data bolstered economic and demand
prospects for industrial metals.

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

* Benchmark copper for March delivery HGH0 ended up 1.80 cents at
$3.2395 per lb on the New York Mercantile Exchange's COMEX division.

* Range from $3.1940 to $3.2680, a high dating back to Jan. 27.

* COMEX estimated futures volume at 41,258 lots by 1:00 p.m. EST (1800
GMT). Final volume on Tuesday at 61,923 lots.

* Open interest rose 3,178 lots to 126,363 contracts as of Feb. 16.

* Copper buoyed by brighter economic outlook reflected in six-month
high in new U.S. home construction in January and increased industrial
output - Frank Lesh, broker and futures analyst with Future Path Trading in
Chicago. [ID:nN17114831]

* Data follows stronger-than-expected New York state manufacturing
figures on Tuesday and fourth quarter Japanese GDP on Monday.
[ID:nNLLGDE60D] [ID:nTOE61805L]

* Copper gains buck typical bearish impact from strong dollar. [USD/]

* Copper underpinned by bullish inventory data signaling robust demand
in China, the world's top copper consumer.

* London Metal Exchange (LME) copper warehouse stocks stood even at
549,900 tonnes on Wednesday. <0#LME-STOCKS>

* Copper canceled warrants -- material earmarked for delivery -- stood
at 16,900 tonnes, up 500 tonnes from the day before and have more than
doubled from a level of 7,425 tonnes at the end of January.

* COMEX copper stocks were flat at 104,464 short tons as of Tuesday.

* Global copper market surplus in surplus of 209,300 tonnes in 2009,
down from 380,000 tonnes in 2008 - the World Bureau of Metals Statistics
(WBMS). [ID:nLDE61G1OE]

* LME benchmark copper for three-month delivery MCU3 closed at $7,130
a tonne, versus $7,144 at the close on Tuesday.
(Reporting by Chris Kelly; Editing by John Picinich)