NEW YORK, May 10 (Reuters) - U.S. copper futures closed with strong gains on Monday after a $1 trillion emergency package in Europe soothed risk-advserse investors and helped restore confidence in the global recovery. For detailed report on global copper markets, click on * Copper for July delivery rallied 8.35 cents, or nearly 2.7 percent, to settle at $3.2280 per lb on the New York Mercantile Exchange's COMEX division. * Range from $3.1665 to $3.2675. * COMEX estimated copper futures volume at 33,579 lots by 1 p.m. EDT (1700 GMT). Final volume on Friday hit 57,246 lots. * Open interest down 5,059 lots to 132,064 contracts open as of May 7. * Copper up amid improved risk appetite tied to European Union and International Monetary Fund agreement for emergency rescue package of up to 750 billion euros ($1 trillion) to keep Greece's debt crisis from spreading through the euro zone. * Few negative catalysts in place likely to prevent a broad commodity rally - Bart Melek, Global Commodity Strategist with BMO Nesbitt Burns in Toronto. * Copper rally additionally driven by better-than-expected import data from China, the world's leading consumer. * Economically-sensitive copper up in follow-through momentum from Friday data showing U.S. employment grew at its fastest pace in four years in April. * Euro recovery from last week's 14-month low against the dollar underpinning copper's early advance. * London Metal Exchange metal stocks fell by 15,575 tonnes at 489,300 tonnes on Monday. * COMEX copper stocks up 69 short tons to 101,220 short tons as of Friday. * Money managers reduced their net long positions in COMEX copper futures by nearly 7,000 lots in the week ended May 4 - data from the Commodity Futures Trading Commission. * LME copper for three-months delivery closed at $7,120 per tonne from Friday's close at $6,940 per tonne. (Reporting by Chris Kelly; Editing by John Picinich) ((email@example.com; +1 646 223 6042; Reuters Messaging: firstname.lastname@example.org)) For the latest news and prices, click on the codes in brackets: LME overview LME Warehouse stocks Spot gold/silver COMEX copper futures COMEX metals warehouse stocks- N.Y. metals hourly volumes Vols/open interest RELATED NEWS AND OTHER TOPICS Precious metals news All metals news All commodities news Metals diary Ldn Bullion Mkt Assoc Foreign exchange Keywords: MARKETS COPPER/COMEX (For help: Click "Contact Us" in your desk top, click here or call 1-800-738-8377 for Reuters Products and 1-888-463-3383 for Thomson products; For client training: email@example.com ; +1 646-223-5546) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.