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Copper slightly

firmer

NEW YORK: Comex copper settled a touch firmer ahead of the holiday weekend, as the market squared up and drew some early support from talk of possible labour disputes at state-owned Chile Copper Corp (Codelco).

"The market had a down week and we had a little bit of consolidation today, but it was relatively unimpressive consolidation," William O'Neill of Merrill Lynch said.

Unions at Codelco's Chuquicamata copper mine went back into talks with management early Thursday, saying they would not rule out a strike if talks failed. The current labor contract expires April 30.

May Comex settled 0.70 cent higher at 113.35 cents per lb, traded narrowly between 113.55 to 113.10 cents. Spot April settled in contango to May at 113.30 cents, up 0.45 cents, as nearby spreads weakened.

Volume was light at an estimated 5,000 lots compared to yesterday's official 7,330 lots.

Comex is closed Friday, and reopens Monday. LME is closed Friday and Monday, and reopens Tuesday.-Reuter