Copper fell more than 3 per cent to near two-week lows on Monday as the U.S. dollar strengthened and investors fretted over how long it would take major economies to overcome recession, allowing demand to recover.
Copper for three-months delivery on the London Metal Exchange ended at $4,970 (U.S.) a tonne from a close of $5,000 on Friday. Prices of the metal used in power and construction hit a day's low of $4,842.25.
"The dollar's been a bit stronger so that's caused a bit of a selloff ... there's uncertainty over how quickly the economy is going to pick up," said David Wilson, director of metals research at Soci'et'e G'en'erale.
