Copper futures fell on Friday as the economic outlook worsened following the release of new data, increasing fears of recession due to slowing demand in the United States, the second largest consumer of copper in the world.
A pair of reports also had an impact on copper prices. The UBS Bloomberg Constant Maturity Commodity Index which tracks 26 commodities fell as much as 0.9 percent. Meanwhile, the CRB index which follows 19 futures dropped as much as 1.1 percent noted Bloomberg.
Copper futures for May delivery settled at 4.15 cents or 1.07 percent to $3.8315 a pound on the Comex division of the New York Mercantile Exchange.
Earlier, Copper gained as stockpiles monitored in ShanghaiÂ´s Futures Exchange warehouses fell 18 percent by 12,217 tons to 55,607 tons this week.
Copper futures on the London Metal Exchange declined $335 or.05 percent to $8,604 a metric ton.