COMEX copper futures fell Wednesday as a firmer dollar prompted some players to take profits after a second successive session of five-month highs.
"There's really not much going on today. It's been quiet all morning. It's the higher dollar, but basically, we're trading off the outside markets. London's been down and we're following them. If they're not moving we aren't either," said one COMEX broker.
COMEX estimated volume at just 2,000 lots by 1000 a.m. EDT on Wednesday.
Benchmark December copper on the New York Mercantile Exchange's COMEX division was off 0.05 cent at $1.3410 a lb, trading from $1.3340 to $1.3580 which marked its second life-of-contract high in two days and the loftiest level hit since April 19. COMEX spot September fell 0.15 cent to $1.34. The rest were down 0.40 cent to up 0.10 cent, with more contracts traded across the board than in recent sessions.