Copper falls for third day as economic worries continue

From MarketWatch:

Copper futures fell Wednesday in New York for a third session, deepening the slide from their highest level in six months, as gloomy earnings reports from Morgan Stanley and Boeing reinforced economic worries.

Limiting copper's losses, China reported that its imports of refined copper hit a record high in March. In other metals, gold rose as economic fears boosted safe-haven buying. Silver and platinum also gained.

Copper for May delivery lost 2.55 cents, or 1.2%, to $2.0615 a pound in North American electronic trading. June gold gained $4.30, or 0.5%, to $887.18 an ounce.

Copper has lost about 6% this week. The decline came after it ended last Friday's trading at $2.194, the highest level since mid-October and up more than 50% from February's low below $1.40...MORE