Copper fell on Friday amid ongoing concern that the U.S. economy will continue to weaken, reducing demand for the metal.

Investors say Fed actions this week sought to give a boost to the economy by increasing the supply of money may not be enough to prevent a slowdown.

On Tuesday, the Fed lowered borrowing costs by a quarter percentage point, less than the half point drop some economist were expecting. The next day, in concert with several major central banks, the Fed unveiled a plan to boost struggling financial markets, with a plan to let banks borrow more funds.

Copper fell in early trading but gained back some of its losses when a report from the Fed showed industrial production in the U.S. rose 0.3 percent, showing greater demand for goods.

Copper for March delivery lost 0.45 cents or 0.2 percent to $2.9565 a pound on the COMEX division of New York Mercantile Exchange. Copper rose on the London Metal Exchange by $35 or 0.5 percent to $6,545 a metric ton.

Copper