US copper futures surrendered early gains and fell to a one-week low Tuesday morning as fluctuations in the US dollar sapped strength in the metal, while surprisingly strong construction data offered underlying support. Copper for July delivery slipped 1.50 cents to $2.27 a lb by 10:37 am EDT (1437 GMT) on the New York Mercantile Exchange's COMEX division.
Morning range from a one-week low at $2.2415 to $2.3170. July copper contract meeting good technical support just above $2.20 a lb. A breach of this level would suggest further weakness, potentially toward $1.90, according to CitiFX technicians. COMEX estimated futures volume at 11,905 lots by 10 am.
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