Copper prices jumped the most in a week after an industry report showed that the U.S. lost fewer jobs than forecast in April, renewing speculation the worst of the global recession may be over. The U.S. cut an estimated 491,000 workers from payrolls last month, the fewest since October, ADP Employer Services said today. Economists forecast a decline of 645,000 jobs, according to the median of 28 estimates in a Bloomberg News survey. Copper has surged more than 50 percent this year on speculation demand will climb as the economy rebounds. The jobs report “looks to be very supportive of the markets and is causing a run higher in the industrial metals,” said Frank McGhee, the head dealer at Integrated Brokerage Services LLC in Chicago. Copper futures for July delivery rose 7.7 cents, or 3.7 percent, to $2.1595 a pound at 9:10 a.m. on the Comex division of the New York Mercantile Exchange. A close at that price would be the biggest gain for a most-active contract since April 29. On the London Metal Exchange, copper for delivery in three months rose $192, or 4.3 percent, to $4,722 a metric ton ($2.14 a pound). The price reached a record $8,940 on July 2.

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