METALS-Copper down on poor OECD demand, higher dollar

4. Mar. 2010

* Dollar strengthens against euro after ECB comments.

* Chile supply fears subside.

* LME copper stocks fall.

LONDON, March 4 - Copper fell on Thursday, as investors fretted demand was cooling in China and was still weak in the OECD, while dollar strength deterred non-U.S. investors.

Benchmark copper for three-month delivery CMCU3 on the London Metal Exchange was at $7,448 a tonne at 1501 GMT from a $7,580 on Wednesday. It earlier fell 2 percent to $7,421.

Copper has eked out gains of just 0.6 percent so far this year, with Chinese buying softening as the world's top base metals consumer moves to a less accommodative monetary policy to cool rapid growth. Chinese demand helped copper surge 140 percent in 2009.
[Reuters]