US copper futures fell early Friday as the dollar recovered some of its earlier losses following a spate of US economic data, traders said. "The data out this morning knocked us down a little bit as the dollar lost some ground, but it did not have as big of an effect in copper as it did in the precious market," said one floor trader.
Benchmark March copper at the COMEX division of the New York Mercantile Exchange was off 0.85 cent at $1.3800 a lb, trading from $1.3690 to $1.3975.
Spot February was 0.80 cent lower at $1.4225.
Floor sources said the trade was still on the sell-side, but the market had the potential to stage a rally from recent lows.
"I think investors selling this market are selling it right into a vacuum and it's going to spring right back into their face," said one.