Copper Declines for First Day in Four on European Debt Concern

Copper fell for the first time in four days in London as some investors viewed recent gains as excessive amid concern that the European debt crisis may slow global economic growth, hurting demand. Zinc also dropped.

Three-month copper shed as much as 0.7 percent to $9,773 a metric ton on the London Metal Exchange, and traded at $9,797 at 4:47 p.m. in Shanghai. The contract gained 1.5 percent yesterday to a more than three-month high after U.S. housing starts were higher than expected. Zinc lost 1.1 percent to $2,462.25 a ton.