COMEX copper ends higher after late recovery .
NEW YORK 1996-08-28
COMEX copper ended higher after a late , modest recovery dragged the market from the lows , but traders shrugged-off an imminent strike at Codelco 's Salvador mine in Chile .
The market was also waiting for Friday 's LME stock report which will include figures delayed from Tuesday because of the U.K. public holiday on Monday when the LME was closed .
" We are in the late stages of the weaker period of the market , and as we get to the post Labor Day market we will start to see more consumer interest and the demand side of the market will start to firm prices up , " said William O'Neill of Merrill Lynch .
December COMEX settled 0.35 cent higher at 90.20 cents , traded 90.50 to 89.40 cents .
September went out 0.05 cent lower at 91.05 .
The August contract expired at 0.85 cent down at 90.85 cents .
Volume was estimated at 8,000 lots .
Workers at Salvador voted to strike from Saturday , and it was not clear when further talks between the unions and management would take place .
" Salvador is a small facility , and the prospects are that if there will be a strike , it will not be a long strike , " O'Neill said .
-- Huw Jones , New York Commodities 212-859-1646