LONDON - Copper fell more than 2 per cent on Friday, as U.S. dollar strength, lingering economic worries and concerns over real demand dented sentiment for base metals.

The dollar regained some poise after falling the previous day. A strong U.S. currency makes metals priced in dollars more expensive for holders of other currencies.

By 1019 GMT, copper for three month delivery on the London Metal Exchange fell to $5,265 a tonne from $5,380 at the close on Thursday and compared with a session low at $5,240.

As markets try to assess the possible timing of a global economic recovery, many analysts see little improvement in underlying demand fundamentals for most base metals.

Copper, used in power and construction, has risen by more than 70 per cent this year, as a combination of improved economic data and Chinese stockpiling, supported prices.

Among other metals fell from multi-month highs hit in the previous session, as steel making ingredient nickel traded at $15,539 from $15,800 while battery material lead was at $1,788 from $1,819.


Zinc dropped to $1,697 a tonne from $1,720 and tin edged down to $15,530 from $15,750.

Crude oil ended a three-day rally and closed lower. Light, sweet crude for July delivery fell 64 cents (U.S.) to settle at $72.04 a barrel, after reaching an eight-month high Thursday. Gold also fell, with futures contracts for August settlement down $21.30 at $940.70 an ounce.


CLOSING PRICES (SPOT)

Gold US$/troy ounce 938.96 -15.39

Silver US$/troy ounce 14.84 -0.52

Copper US$/lb 0.57 -1.86

Lead US$/lb 0.80 -0.02

Zinc US$/lb 0.75 -0.01

Aluminum US$/lb 0.73 -0.02

Nickel US$/lb 7.08 -0.05

Oil West Texas US$/bbl 72.04 -0.64

Nat Gas Henry Hub US$ mmbtu 3.54 0.04

Nat.Gas AECO C C$/gigajoule 2.71 0.03