Copper Drops After U.S. Durable Goods Fall More Than Forecast

Copper fell for the first time in three sessions on concern that a bigger-than-expected drop in U.S. durable-goods orders signals slower demand growth in the country, the world’s second-biggest user of the metal.

Bookings for goods meant to last at least three years tumbled 7.3 percent, the Commerce Department said today in Washington. The median forecast of economists surveyed by Bloomberg called for a 4 percent drop. Orders waned for aircraft and capital goods such as computers and electrical equipment. Copper prices are down 8.9 percent this year.