Copper erased earlier gains to end easier on Thursday, influenced by slowing economic conditions in the US that underscored the bearish sentiment surrounding demand prospects at the start of the year. Copper's mildly negative tone came after US gross domestic product for the first quarter slowed to a 1.8 percent annual pace.
"Copper at the moment seems to be focusing on the potential slowing economic conditions in the US," said Frank Lesh, broker and futures analyst with Future Path Trading in Chicago. The number is "certainly affecting market psychology." London Metal Exchange (LME) benchmark copper eased $1 to close at $9,320 a tonne. In New York, prices recovered from the late sell-off in London to end firm, with the most-active July COMEX copper contract rising 1.50 cents at $4.2615 per lb. Still, prices are down more than 8 percent from February's record highs of $10,190 a tonne and $4.6535 per lb.
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