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Copper remains higher

NEW YORK: Comex copper remained higher at midday but failed to break the psychologically important 140 cents a lb barrier.

At 1219 EDT September Comex was at 139.00 cents a lb, up 2.50 cents a lb, traded 139.50 to 137.00 cents a lb.

A trader said the market was nervous and thinly traded, with the moves a reaction to some buy stops.

"Both LMF and Comex ran some stops and then hit resistance," the trader said. "Comex was capped by arbitrage with the market buying London and selling Comex." Resistance is pegged at 139.50 to 140.00 cents a lb, he said.-Reuter