US copper settles up on better economic prospects

NEW YORK, Feb 18 (Reuters) - U.S. copper futures closed up at a near
one-month high on Thursday, buoyed by early losses in the dollar and
matching a firmer tone in equities on the back of improved economic
prospects.

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

* Copper for March delivery HGH0 climbed 4.60 cents, or 1.4 percent,
to settle at $3.2855 per lb on the New York Mercantile Exchange's COMEX
division.

* Highest level on a closing basis since Jan. 26.

* Range from $3.18 to $3.3140.

* Active May contract HGK0 ended up 4.65 cents at $3.3055.

* COMEX estimated final futures volume at 43,301 lots, down from the
previous session's count at 50,166 lots.

* Open interest dropped 3,573 lots to 122,790 contracts open as of Feb.
17.

* Copper acting like economic leader, signaling an uptick in economic
activity - Frank McGhee, head precious metals trader with Integrated
Brokerage Services LLC in Chicago.

* Brighter economic prospects reflected in greater-than-expected
increase in Mid-Atlantic factory activity in February and a measure of
economic prospects up for the 10th month to a record high in January.

* Copper gains buck unexpected rise in new U.S. weekly jobless claims
and jump in producer prices. [ID:nN18186639]

* Late dollar rally capped copper gains, as a stronger American
currency tends to make dollar-priced metals more expensive for non-U.S.
investors. [USD/]

* London Metal Exchange (LME) copper warehouse stocks rose 5,175 tonnes
to 555,075 tonnes on Thursday to their highest levels since October 2003.
<0#LME-STOCKS>

* Canceled warrants -- material earmarked for delivery -- fell to
15,250 tonnes from 16,900 the day before.

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

* LME benchmark copper for three-month delivery MCU3 last quoted at
$7,260/7,265 a tonne, from a close of $7,130 on Wednesday.
(Reporting by Chris Kelly; Editing by John Picinich)