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Posted AT 3:52 PM EDT on 10/03/08

Copper falls on U.S. recession fears

DANIEL MAGNOWSKI

Reuters

LONDON — Fears of a recession in the United States and falling demand prompted investors to dump industrial metals Monday, sending copper to a two-week low. The metal, used widely in the power and construction industries touched $8,280 (U.S.), the lowest level since Feb. 26, and closed at $8,310 per tonne, down from $8,545 on Friday. Last week, copper hit a record high of $8,820 a tonne in London and a 22-month high of $4.

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