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Copper prices stronger

NEW YORK: Comex copper on Tuesdaysettled higher after a rangebound session where traders see the market as continuing to consolidate its recent gains.

Trading volume was relatively light, with the market bouncing off the lows to end at mid-range.

"It will probably test the recent highs of 120.30 to 120.50 cents per pound basis May one more time," a floor source said. Traders expected the market to move sideways over the next few sessions to consolidate.

"There is some underlying support," a broker said.

LME stocks continue to fall, especially in Singapore leading traders to take a more optimistic view of red metal demand in Asia. May Comex settled 0.65 cent higher at 118.40 cents per lb, traded 118.90 to 117.70 cents. Spot April was up 0.55 cent at 118.80 cents. Volume was estimated at 9,000 lots compared to yesterday's official 12,863 lots.-Reuter