Copper futures recovered earlier losses on Thursday as the dollar fell and demand for metals rose to compensate for inflation.
Copper futures for July delivery fell 0.2 or 0.06 percent to $3.5430 a pound on the Comex division of the New York Mercantile Exchange. Earlier Thursday, copper fell as low as $3.5120 a pound, the most since March 20.
The dollar fell against the euro after the President of the European Bank Jean-Claude Trichet suggested the central bank may raise interest rates in July.
Supporting prices today, analysts believe demand for the metal has slumped after futures have hit record prices this year.
In the London Metal Exchange, copper inventories rose 1,250 metric tons today to 123,500 metric tons. In The Comex division, copper stockpiles were steady at 11,051 short tons according to the most recent data.
Copper futures for July delivery fell $14 or 0.17 percent to $7,990 a metric ton in the London Metal Exchange.