New York copper futures lost ground early Wednesday a day after returning to the contract high, when sellers decided to take profits as soon as they say saw the dollar embark on higher levels, traders said "It's all dollar related," said one trader, who added that volumes were lightened by holiday-thinned staffing.
At the COMEX division of the New York Mercantile Exchange, March delivery copper was down 0.75 cent at $1.4455 a lb, and traded between $1.4330 and $1.4525. On Tuesday, it matched the contract high at $1.4560 a lb. COMEX estimated 1000 am EST copper volume at 4,000 lots.
New York metals markets will close around noon EST on Thursday and remain closed on Friday for New Year's Day.
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