Spike in copper futures due to 'error trade': Source

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The spike in COMEX March copper futures prices around midday in New York on Tuesday was due to an "error trade,'' a source familiar with the matter told Reuters.

Any orders that were placed above $3.42 per lb after 11:49 a.m. EST will be adjusted back to that level, the source said.

Prices spiked to $3.4475/lb, their highest since April, after a sudden, big burst of buy orders around midday.

—By Reuters