US copper futures fell to their lowest point in nearly a week on Tuesday, pressured by a firm dollar, rising stocks in London, and signs that economic weakness was spreading abroad, analysts said.
Copper for September delivery settled down 4.30 cents at $3.4385 a lb on the New York Mercantile Exchange's COMEX division, the contract's lowest level on a closing basis since August 20. The session range was from $3.3955 to $3.5115. COMEX estimated final futures volume at 23,589 lots, compared with Monday's official count of 15,252 lots. COMEX copper stocks were unchanged at 5,390 short tons on Monday.