US copper futures opened higher in quiet business Tuesday and managed to climb to new contract highs, though a lack of volume created more volatility and exaggerated the spike in prices, traders said.
By 10:30 am EDT (1430 GMT), copper for December delivery was up 2.00 cents at $1.8260 a lb at the COMEX division of the New York Mercantile Exchange, moving between $1.8030 and $1.8270, a new life-of-contract peak.
Spot October was bid at $1.9150, after hitting an all-time high for the front-month contract on a spot continuation basis at $1.9220.
COMEX copper volume at 10:00 am EDT was estimated at only 3,000 lots.
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