Weak confidence data drives US copper below $3/lb

NEW YORK, Oct 27 (Reuters) - U.S. copper futures fell below
$3.00 a lb Tuesday morning after data showing a
lower-than-expected level of consumer confidence in October
fanned concerns about the strength of the economic recovery.

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

* Copper for December delivery HGZ9 was down 0.60 cent to
$3.0050 a lb by 10:34 a.m. EDT (1434 GMT) on the New York
Mercantile Exchange's COMEX division.

* Range from $2.9440 $3.0290.

* On Monday, contract hit $3.0690, its highest level since
late September 2008.

* COMEX estimated futures volume at 14,100 lots by 10 a.m.

* Economically sensitive copper down after index of U.S.
consumer confidence slipped to 47.1 in October, versus
economist expectations of 53.1 and against a upwardly revised
53.4 in September - The Conference Board. [ID:nNYS007475]

* Weaker consumer confidence data offset earlier optimism
after the Case-Shiller 20-city home price index rose in August
for the fourth straight month. [ID:nNYS007473]

* Copper losses mounted after early negative reversal in
equity markets and stronger dollar following the weaker
confidence data - brokers [USD/]

* Copper supported by sixth consecutive monthly rise in
Japan's output of rolled copper products to 66,145 tonnes in
September, up 4.7 percent from August. Production still lagged
output in September 2008 by 17.4 percent [ID:nT313128]

* A 15-day worker strike at Chile's Spence copper mine
underscoring mounting supply-side concerns. [ID:nN26181800]

* Workers at Chile's Andina copper mine demand a 5 percent
wage hike from owner Codelco. [ID:nN22346343]

* Large 1,800-tonne build in London Metal Exchange
stockpiles dampen demand outlook. Inventories stand at their
highest levels since mid-May, at 370,650 tonnes. [LME/STX1]

* COMEX copper warehouse stocks went up by 370 short tons
on Monday to 59,028 short tons.

* LME three-month copper MCU3 at $6,598 a tonne, down $15
from Monday's kerb close.
(Reporting by Chris Kelly; Editing by Walter Bagley)