NEW YORK, July 27 (Reuters) - U.S. copper futures climbed to a 10-month high Monday morning, driven by a softer dollar, strong Chinese demand and improved economic sentiment after data showed a sharp jump in new U.S. home sales in June. For detailed report on global copper markets, click on [MET/L] * Copper for September delivery HGU9 firmed 3.10 cent, or 1.2 percent, to $2.5530 a lb by 10:33 a.m. EDT (1433 GMT) on the New York Mercantile Exchange's COMEX division. * Ranged from $2.5175 to $2.5790 -- highest level since Oct. 3. * COMEX's estimated futures volume at 10,375 lots by 10 a.m. IZQI * Copper buoyed by economic optimism after data showed new U.S. home sales jump to 11 percent in June, to their biggest month-to-month gains since December 2000. Data suggests the housing sector, which led the United States into the current recession, may have hit bottom and is starting to rebound - analysts. * "It gives credence to the belief that the worst of the housing collapse is over. Maybe the various stimulus measures have had an impact and that one important sector in the economy is recovering and we could see positive growth before year-end in the entire economy." - Kim Rupert, managing director of global fixed income analysis with Action Economics LLC. * An average 2,100 square foot (195 square metre) single-family home uses 439 pounds of copper - Copper Development Association. * Safe-haven demand for the dollar fades after bullish housing data, making dollar-denominated metals more attractive for non-U.S. investors. [USD/] * Copper buoyed by record level of Chinese imports due to fiscal stimuli. [ID:nHKG22513] [ID:nPEK101869] * London Metal Exchange warehouse stocks of copper up 3,475 tonnes to 277,425 tonnes on Monday. * COMEX copper stocks CMWSU down 192 short tons to 56,779 short tons as of Friday. * LME copper for three-months delivery MCU3 last traded at $5,606 a tonne, up $86 from Friday's close. * Earlier, it hit a 10-month high at $5,646. (Reporting by Chris Kelly; Editing by Marguerita Choy)

Source