New York copper futures opened firmer in thin trade early on Thursday and were in sight of fresh highs as further supply disruptions were reported, sources said. The market opened about a penny higher on the news that workers went on strike over pay at Zambia's largest copper producer.
Copper for September delivery advanced 2.35 cents to $1.5730 a lb. by 10:15 am EDT (1415 GMT) at the New York Mercantile Exchange's COMEX division, dealing from $1.5495 to $1.5750, and in sight of Monday's 16-year high of $1.5820.
Spot July copper traded 2 cents firmer at $1.64 a lb., its best level since June 28, on a spot continuation basis. COMEX estimated copper volume at 9 am was only 3,000 lots.