US copper futures rose slightly Wednesday morning on a weaker dollar and a firmer open on Wall Street as the market awaited a final verdict on the US presidential election, traders said. "The euro has come screaming back today and the Dow is expected to rally on the potential Bush win, so I think the market is in very good shape," said one.
Benchmark December copper on the New York Mercantile Exchange's COMEX division was up 0.75 cent at $1.3280 a lb, holding in the top end of its $1.3130 to $1.3345 trading range.
"London was firm this morning and we just followed with some technical buying down here and after hitting morning highs, we held unchanged which looks like a good sign," said one floor dealer.
Spot November had yet to trade. It settled at $1.3295 Tuesday.