US copper futures tumbled to their lowest levels in more than a week early Tuesday, as the dollar steadied and demand optimism soured after indications of further tightening measures in the Chinese economy. Benchmark copper for March delivery slipped 4.75 cents, or 1.4 percent, to $3.3935 per lb by 10:30 am EST (1530 GMT) on the New York Mercantile Exchange's COMEX division.
Range extended down from $3.4625 to $3.3705, the key March contract's lowest level since January 4. Last week, March copper rallied to $3.54 a lb, its highest level since August 2008. COMEX estimated futures volume at 16,057 lots by 10 am.