Copper ended down for a fourth consecutive session on Friday after disappointing jobs data in the United States tempered some of the economic recovery optimism behind the metal's early-year rally to record highs. Prices of the industrial metal pulled further away from record peaks at $9,754 per tonne in London and $4.4980 per lb in New York, falling to their lowest levels in two weeks, as investors slashed growth projections in response to the softer-than-expected jobs data.
COMEX copper for March delivery shed 4.70 cents to end at $4.2825 per lb. The losses place the benchmark COMEX contract right at its 20-day moving average, a level seen keeping prices locked in an area of consolidation.