US copper futures fell as much as 3.6 percent early Thursday, under pressure from persistent inventory builds and grim economic data that suggested the market's already-weakened state of demand will suffer further. Copper for March delivery was down 2.95 cents, or 2 percent, at $1.4580 per lb by 10:23 am EST (1523 GMT) on the New York Mercantile Exchange's COMEX division.
The range ran from $1.4335 to $1.5025. Technicians pegged near-term support in benchmark March at $1.40 with resistance at around $1.60. COMEX estimated futures volume at 4,914 lots by 9 am.