US copper futures end down in tandem with energies

NEW YORK, Aug 20 (Reuters) - U.S. copper futures ended lower on Wednesday in sympathy with a negative reversal in crude oil and under pressure from renewed strength in the U.S. dollar, traders said.

NOTE: For detailed report, click on [MET/L].

* Copper for September delivery HGU8 settled down 3.15 cents at $3.3970 a lb on the New York Mercantile Exchange's COMEX division.

* The session range ran from $3.3605 to $3.4845, the contract's loftiest level since Aug. 4.

* Technicians see initial resistance in September copper at $3.45, followed by $3.4750, and then $3.50. Support seen at around $3.25 and then at last week's low at $3.2185.

* COMEX estimated final futures volume at 18,201 lots, down from Tuesday's final count at 28,631 lots.

* Open interest fell by 285 lots to 94,900 open contracts as of Aug. 19.

* Copper relinquishes its early bullish momentum in tandem with the crude oil, which turned lower after weekly inventory data showed a larger-than-expected build in crude stocks. [O/N]

* Copper caught in a tug-of-war between weakness in the energies and slightly firmer U.S. equities - Scott Meyers, senior trading analyst with Pioneer Futures in New York.

* In currencies, the dollar rebounded on Wednesday amid growing views that the United states could skirt a possible recession even as other major countries grappled with their own decelerating economies.

* In afternoon trade in New York, the dollar index, a measure of its value against a basket of six major currencies, was up 0.45 percent on the day at 77.100. On Tuesday, it rose to a high for the year of 77.413.

* The euro was down nearly 0.6 percent at $1.4701 <EUR=>, well within striking distance of its six-month low of around $1.4631 hit on Tuesday.

* A stronger American currency tends to make dollar-denominated assets like copper more expensive for non-U.S. investors.

* Copper still plagued by demand reductions from top consumer China due to government clampdowns on manufacturing activity in the run-up to and during the Beijing Olympic Games. However, buyers are expected to revive the market, probably as soon as September. [ID:nLJ399344]

* London Metal Exchange copper warehouse stocks eased 25 tonnes to 156,125 tonnes on Wednesday.

* COMEX copper stocks were unchanged at 5,407 short tons on Tuesday.

* LME copper for delivery in three-months MCU3 ended down $65 at $7,510 a tonne from Tuesday's kerb close. (Reporting by Chris Kelly; Editing by Christian Wiessner)