Copper prices rose, erasing earlier declines, after a report showed orders for U.S. durable goods jumped in April, raising speculation that the economy is improving and metals demand will rise. Orders for items such as cars and military gear rose 1.9 percent last month, the Commerce Department said today, the biggest gain since the December 2007 start of the U.S. recession. Before today, copper soared 50 percent this year on signs that the global economy was stabilizing. “The report this morning was pretty good for the economic outlook,” said Michael K. Smith, the president of T&K Futures & Options in Port St. Lucie, Florida. “The market is looking for a potential bottom in the economy and all you need is a little bit of good news to send copper higher.” Copper futures for July delivery climbed 1.4 cents, or 0.7 percent, to $2.135 a pound at 9:21 a.m. on the New York Mercantile Exchange’s Comex division. Earlier, the price dropped as much as 2 percent. Economists surveyed by Bloomberg News forecast durable- goods orders would rise 0.5 percent, the median of 73 estimates. On the London Metal Exchange, copper for three-month delivery advanced $12.25, or 0.3 percent, to $4,677.25 a metric ton ($2.12 a pound). Among other LME metals for three-month delivery, aluminum fell 0.2 percent to $1,402 a ton; nickel rose $55 to $13,450; tin dropped 0.4 percent to $13,550; lead gained 0.1 percent to $1,446.25 and zinc eased $1 to $1,459 a ton.

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