US MIDDAY: copper up

Copper ended up a shade in choppy trade on Friday, failing to sustain a surge to three-month highs as economic jitters limited the bullish impact of Chilean supply shocks. Copper posted its second straight monthly gain as investors bet on improved demand in the second half, along with a supply shortfall, with production problems mounting in top producer Chile.
Prices rallied overnight to early-April peaks, then balked after data showed the US economy stumbled badly in the first half of 2011, coming dangerously close to contracting in the January-March period. In New York, the key September COMEX contract settled up 1 cent at $4.4795 per lb, after recovering from an early loss to $4.4115. It also touched a three-month high at $4.5020.