Copper prices rose slightly in light, directionless trade on Wednesday, boosted by a stronger euro after an early slide due to weak US retail sales data that fed fears about demand in the world's largest economy. In New York, the COMEX July contract settled up 0.11 percent at $3.3395 per lb, garnering some technical support after hitting an intraday low of $3.3185.
Investors remained nervous about Europe despite this week's 100 billion euro ($125.74 billion) bank rescue plan for Spain. Some thought copper might bounce up on relief after June 17 elections in Greece. "The chances of a major blow-out in Europe are not that high. People are getting quite cautious ahead of the weekend's elections. It's more likely to see an event that will be positive for risk appetite and therefore you'll see copper doing well early next week," said analyst Dan Smith of Standard Chartered, adding that dips should be seen as a buying opportunity.
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