NEW YORK - U.S. copper futures advanced to levels not seen in 11-months on Friday as a robust U.S. consumer spending report suggesting demand for the metal might increase going forward, but later pulled off that peak when consumer sentiment eased slightly in August, traders said.
* Benchmark copper for December delivery HGZ9 steadied around 9.50 cents, or 3.31 percent, higher at $2.9670 a lb on the New York Mercantile Exchange's COMEX division by 10:16 EDT (1416 GMT)
* Range reached up to $2.9895, last seen on Sept. 26, from higher low at $2.8860 a lb.
* September futures HGU9 added 9.25 cents, up 3.35 percent, to $2.9410.
* COMEX estimated 1000 a.m. EDT (1400 GMT) copper volume at 18,588 lots.
* Copper pulled off early highs when August consumer sentiment data slipped below the July reading - traders.
* Reuters/University of Michigan Surveys of Consumers' final August consumer sentiment fell to 65.7 from July's final reading of 66.0.
* A decline off session highs in U.S. equity indexes also weighed on copper prices following the sentiment data.
* Earlier, a healthy U.S. consumer spending series pushed copper prices up to highs last seen in late September - traders.
* U.S. consumer spending rose as expected in July, lifted by the government's cash-for-clunkers program that fueled demand for autos.
* The Commerce Department said spending rose 0.2 percent after increasing by a revised 0.6 percent in June, previously reported as a 0.4 percent gain. The headline number was in line with an average of analysts forecasts.
* It looks like we ended the quarter a little bit higher than we thought, and this is three straight months of increases in inflation-adjusted consumer spending. So, I think that puts us in pretty good stead for an upturn in consumer spending in the third quarter, said David Resler, chief economist at Nomura Securities International in New York.
* London Metal Exchange (LME) warehouse stocks climbed 1,375 tonnes to 298,925 tonnes on Friday.
* COMEX copper warehouse stocks rose 111 short tons to 52,981 short tons as of Thursday.
* LME copper for three-months delivery MCU3 jumped to $6,490 a tonne from $6,275 a tonne at Thursday's close. Earlier, it hit an 11-month high at $6,540. (Reporting by Carole Vaporean; Editing by Marguerita Choy)