US copper futures opened lower on Wednesday, in step with easing prices in London, as some investors pocketed profits though prices found support at the lows and traders were reluctant to sell at these historic highs, sources said.
By 10:12 am EDT (1412 GMT), copper for December delivery was down 1.50 cents, or 0.82 percent at $1.82 a lb at the COMEX division of the New York Mercantile Exchange, trading between $1.8120 and $1.8380. Spot October was bid at its early session low at $1.9050.
The all-time high for the front-month contract was at $1.9270 on a spot continuation basis. COMEX copper volume at 10 am EDT was estimated at 2,000 lots.