Copper Falls as U.S. Shutdown Fuels Demand Concerns

Copper fell after talks between President Barack Obama and U.S. congressional leaders failed to break a budget stalemate that spurred a partial government shutdown, eroding prospects for the economy and metal demand.

The impasse raises the odds of a prolonged standoff. That may derail negotiations to raise the government’s $16.7 trillion debt limit by Oct. 17, threatening a default that would roil global markets. Copper futures have dropped 1.8 percent this week.