US copper futures track broader commodity weakness

NEW YORK, June 8 (Reuters) - U.S. copper futures closed down in sympathy with losses in other commodity markets on Monday, as an extended rally in the dollar versus the euro helped keep a lid on the broader complex.

For detailed report on global copper markets, click on [MET/L]

* Copper for July delivery HGN9 slipped 3.10 cents to settle at $2.2530 a lb on the New York Mercantile Exchange's COMEX division.

* Session range from $2.2305 to $2.3085.

* Copper building a technical wedge formation, with resistance at last week's high of $2.3530 and initial support at $2.1995 - broker.

* COMEX estimated futures volume at 27,341 lots by 1 p.m. EDT (1700 GMT). Final volume on Friday hit 34,609 lots.

* Open interest fell by 191 lots to 111,766 contracts open as of June 5.

* Copper downside limited as investors choosing to focus on the positives -- most notably the surprisingly strong U.S. unemployment data on Friday and strong Chinese demand signals - Michael Gross, futures analyst with Optionsellers.com in Tampa, Florida.

* Last week, the better-than-expected unemployment data helped drive the COMEX copper price to a 7-1/2-month high at $2.3530. [ID:nN04486858]

* "You may be getting a little pressure from the dollar, but a lot of traders seem to be looking at the glass as more half full right now." - Gross.

* The dollar extended recent gains against the euro EUR= as Treasury yields continued to rise following last week's stronger-than-expected jobs report and after ratings agency Standard & Poor's cut Ireland's sovereign credit rating on Monday to AA. [USD/]

* A stronger U.S. currency makes dollar-priced metals less attractive to non-U.S. investors.

* London Metal Exchange warehouse stocks <LME/STX1> shed another 2,125 tonnes on Monday, bringing total warehouse levels to 297,850 tonnes.

* Canceled warrants -- metal set to leave warehouses -- stood at 32,475 tonnes from 34,825 tonnes the previous session.

* COMEX copper stocks CMWSU went up 421 short tons to 57,239 short tons as of Friday.

* Last week, copper warehouse inventories in Shanghai surged 51 percent. [ID:nSP451162]

* May imports of unwrought copper and semi-finished copper production by China, the world's top consumer of the metal, expected to be down from April's all-time record levels as end-user demand wanes. [ID:nHKG15001]

* COMEX copper noncommercial net short position rose to 18,654 lots from 17,712 lots the previous week. Open interest grew to 111,357 lots from 107,631 lots in the previous week. [ID:nN05301278]

* LME copper for three-months delivery MCU3 shed $10 to close at $4,980 a tonne. (Reporting by Chris Kelly; Editing by Christian Wiessner)