NEW YORK, March 24 (Reuters) - U.S. copper futures were soft in early trade on Wednesday, weighed down by disappointing housing data and the dollar, which rallied on renewed concerns about the fiscal health in the euro zone after ratings agency Fitch downgraded Portugal. For detailed report on global copper markets, click on [MET/L] * Copper for May delivery HGK0 off 3.75 cents at $3.3415 per lb by 10:35 a.m. EDT (1435 GMT) on the New York Mercantile Exchange's COMEX division. * Range from $3.3210 to $3.3875. * COMEX estimated copper futures volume at 13,111 lots by 10 a.m. * Copper down in sympathy with broader commods complex from "ferociously strong" dollar - Sterling Smith, an analyst for Country Hedging Inc. in St. Paul, Minnesota. * Reuters-Jefferies CRB index .CRB, a global commodities benchmark, hit new 5-1/2-week low as energy, metals and agricultural markets fall under weight of rallying dollar. * Dollar up on worries over debt sustainability and growth in some euro zone countries after ratings agency Fitch downgraded Portugal. [USD/] * A stronger dollar makes dollar-priced commodities more expensive for non-U.S. investors. * Economic recovery concerns and fears of renewed weakness in U.S. housing sector fuel investor risk aversion. * Separate data showed U.S. durable goods rose for the third straight month in February as businesses rebuilt inventories. [ID:nN24144679] * London Metal Exchange copper warehouse stocks fell by 225 tonnes to 520,450 tonnes on Wednesday -- the lowest since Jan 11. <0#LME-STOCKS> * COMEX copper stockpiles grew by 289 short tons to 102,012 short tons as of Tuesday. CMWSU * World refined copper surplus at 365,000 tonnes in 2009, up 63 percent from 2008 - International Copper Study Group (ICSG). [ID:nSGE62L0LK] * LME copper CMCU3 last traded at $7,365 per tonne from Tuesday's kerb close at $7,440 per tonne. (Reporting by Chris Kelly, Editing by Rene Pastor)

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