US copper closes lower, consolidates from rally

NEW YORK, Feb 22 (Reuters) - U.S. copper futures closed down
on Monday for the first time in five sessions as a firmer dollar
and a quieter tone across the broader metals complex enabled
prices to consolidate from a strong two-week rally.

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

* Most active copper for May delivery HGK0 shed 5.05 cents,
or 1.5 percent, to close at $3.3285 per lb on the New York
Mercantile Exchange's COMEX division.

* Range from $3.3075 to $3.3880, its highest level since Jan.
26.

* March copper HGH0 ended down 5.05 cents at $3.3065.

* COMEX estimated final futures volume at 42,784 lots, down
from Friday's final count at 54,093 lots.

* Open interest up 1,408 lots at 127,294 contracts open as of
Feb. 19.

* Profit-taking/consolidation keeps copper prices locked in
narrow range, tracking mild declines in precious metals complex -
Bob Haberkorn, Lind-Waldock senior market strategist.

* Market pauses from recent rally that saw prices surge nearly
20 percent since Feb. 5 low at $2.8290 per lb - traders.

* Copper losses influenced by slightly firmer tone in the
dollar versus the euro - traders. [USD/]

* Disappointing Chinese return to market from week-long Lunar
New Year holiday and new monetary tightening in world's top copper
consumer hit sentiment - analysts. [ID:nBJD003502]

* World copper market surplus at 144,000 tonnes Jan-Nov -
International Copper Study Group. [ID:nN22500491]

* London Metal Exchange (LME) copper warehouse stocks rose by
250 tonnes to 555,025 tonnes on Monday, near levels not seen since
October 2003. <0#LME-STOCKS>

* COMEX copper stocks declined by 137 short tons to 104,327
short tons as of Friday.

* Money managers increased their net long COMEX copper futures
positions to 13,828 contracts for the week ended Feb. 16, from
12,490 net longs the week before - U.S. Commodity Futures Trading
Commission. [ID:nN1952982]

* Global miner Anglo American (AAL.L) sees total copper output
at 1.2 million tonnes by 2014. [ID:nN22191204]

* LME benchmark copper for three-month delivery MCU3 closed
at $7,330 a tonne from $7,435 on Friday.
(Reporting by Chris Kelly)