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Copper Declines to Three-Week Low on Demand Concerns

Copper fell to the lowest in more than three weeks in New York amid concern that the economic recovery in the U.S. may falter at a time when growth in China is slowing, hurting demand for the metal.

Jobless claims in the U.S. increased by 14,000 to 348,000 in the week ended Feb. 22, exceeding all forecasts in a survey and the highest level in a month, a Labor Department report showed today. Chinese manufacturing probably slowed this month, economists surveyed by Bloomberg said before an official gauge due March 1.