US copper lower

Copper shed more than 2 percent of its value on Thursday, as commodities crumbled under the weight of double-dip recession fears after another batch of US economic data undershot market expectations. In New York, the September COMEX contract settled with a 6.60-cent loss at $3.9660 per lb, after moving between $3.9485 and $4.0430.
"There is a gradual deceleration in growth and that is going to keep the market on the defensive into the balance of the year," said Edward Meir, analyst at MF Global.