US copper futures opened with modest gains Wednesday on the heels of a slightly firmer London market as expectations of market volatility following expires of November traded options failed to materialise as some had forecast and held prices in a narrow morning range, sources said.

November traded options expired in London with little action with prices staying away from the major open interest strikes at $3,800 and $4,200.s

By 10:20 am EST (1520 GMT), copper for December delivery was up 1.00 cent at $1.8260 a lb, at the COMEX division of the New York Mercantile Exchange, near the upper half of its $1.8090 to $1.8280 cent range. The asking price for spot November was at $1.90 a lb, but there were no bids. COMEX copper volume at 10:00 am was estimated at only 4,000 lots.

Copyright Reuters, 2005