U.S. copper futures closed with marginal gains on Monday as a slightly positive tone on Wall Street gave the complex a modest boost, while economic concerns and waning demand prospects lingered, analysts said.
* Copper for December delivery HGZ8 rose 1.10 cents to settle at $1.84 a lb on the New York Mercantile Exchange's COMEX division.
* The range spanned $1.7805 to $1.9315.
* COMEX estimated final futures volume at 15,217 lots.
* Copper's morning losses attributed to jump in London Metal Exchange warehouse stocks to their highest levels since March 2004 - analysts.
* LME copper inventories rose 7,275 tonnes to 237,925, following gains of 6,775 and 6,575 at the end of last week.
* Copper's positive reversal in line with U.S. equities, while dismal manufacturing data held the rally in check - OptionsXpress futures analyst Rob Kurzatkowski.
* Institute for Supply Management said its index of national factory activity fell to 38.9 in October from 43.5 in September.
* China's factory output shrank sharply in October due to waning orders, while officials pledged further steps to boost domestic demand to keep the economy from slowing too much.
* JP Morgan Global Manufacturing PMI, compiled with research and supply management organizations, fell to 41.0 in October, lowest since the survey began in January 1998, from 44.7 in September.
* Fundamentally, a stream of bullish announcements about cutbacks could unnerve shorts and spark a round of bargain hunting - BaseMetals.com analyst William Adams.
* German metals group Cronimet said it will cut output at its copper and molybdenum mine in Armenia due to poor market conditions.
* Chile's Escondida, the world's largest copper mine, produced 997,000 tonnes of copper in concentrates and cathodes in the first nine months of the year, down 10.4 percent from the year-ago period.
* State producer Codelco reported an 8.2 percent decline in copper output over the first 9 months of 2008.
* Net speculative short position in COMEX copper futures declined by nearly 10 percent to 15,883 lots in the week ended Oct. 28, from 17,579 lots the previous week.
* LME copper for three-month delivery <MCU3=LX> fell as low as $3,934 a tonne before officially ending at $4,090, down from Friday's close at $4,099.
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