By Tuesday, reports said United Nations forces backing Ouattara had damaged Gbagbo's home and that the incumbent was negotiating his surrender.

Copper for May delivery was rising 0.2% to $4.26 a pound amid a two-day holiday in China and a week-long CESCO (The Center for Copper and Mining Studies)/CRU mining conference in Chile.

Man Financial analyst Ed Meir said initial reports from the conference have been quite upbeat, with most speakers pointing to tight supply and healthy demand to support their "relatively rosy outlook" for prices.

"We would agree, but are nonetheless quite wary about short-term prospects, particularly going into Q2," said Meir. "In this respect, we think markets have not adequately discounted what could be a soft patch in terms of demand likely caused by a ratcheting higher of interest rates and typified by rising inventories."

If you liked this article you might like

5 Stocks Under $10 Set to Soar

Goldman Sachs: 19 Overpriced Small-Cap Stocks You Should Sell

Westport Innovations (WPRT) Stock Closes Higher on Gazprom Agreement

Strong On High Volume: Westport Innovations (WPRT)

Westport Innovations (WPRT) Stock Plummeting Today After Fourth Quarter Loss