US copper futures opened higher on Wednesday and aimed towards new contract highs hit overnight after the US gross domestic product report portrayed an economy that is growing faster than forecasters expected, traders said.
Spot December futures on the COMEX division of the New York Mercantile Exchange raced to a new contract high at $2.0740 per lb, and steadied 2.85 cents higher at $2.0690.
Benchmark March copper was up 1.40 cents at $1.9255 a lb, after rising to $1.9290 a lb, its latest lifetime peak. COMEX estimated 1000 EST copper volume at 4,000 lots.