US copper futures ended up at a fresh 27-month peak on Wednesday, buoyed by expectations for further monetary easing by the Federal Reserve and the bearish impact it continues to have on the US dollar. Copper for December delivery rose 3.10 cents to settle at $3.8205 per lb on the COMEX metals division of the New York Mercantile Exchange.
Highest level on a closing basis for third position futures contract since July 7, 2008. Range from $3.7950 to $3.8410, a new contract high. COMEX estimated final copper futures volume at 32,867 lots, down from Tuesday's count at 41,794 lots. Open interest up 823 lots at 158,917 contracts as of October 12.
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