Benchmark copper futures eked out a modest gain on Friday, after upbeat US employment data helped calm commodity markets spooked into free fall on Thursday by fears of slowing growth in the world's No 1 economy. But gains were reversed in after-hours trade, as the US dollar extended gains against the euro and chatter of a Greek exit from the eurozone heightened concerns about the sustainability of the global recovery.
The gains quickly evaporated in late New York trade, with the price dipping back down below $8,800. COMEX copper for July delivery fell 2.25 cents to settle at $3.9755 per lb, placing the contract below its 200-day moving average.