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Copper settles

with losses

NEW YORK: Comex copper ended lower in lackluster, thin trading as the market pared losses from its initial sell off, traders said on Friday.

"Some people were long and got out of their long positions, so the market dipped down at the start, but other than that nothing happened," said a floor source.

September closed at 139.05 cents a lb, down 0.15 cent a lb, traded 139.50 to 138.10 cents a lb.

Traders said the market largely shrugged off the less than expected rise in July payroll figures.

Volume was estimated at 4,300 lots by 1300 EDT with only an hour of trading left - the second quiet day since Wednesday's surge to almost 20,000 lots during a fund-led rally.

"Even though we did not tumble, we never looked to challenge 140 cents a lb. We ended the week without getting above that level," said Refco analyst Jim Steel.

Comex cash and September ended at a premium over their LME counterparts.-Reuter