Copper prices fell on Wednesday as an increase on inventories rose concerns demand is weakening.
Copper inventories gained 2,300 metric tons, or 1.9 percent to 124,950 tons in the London Metal Exchange today. Inventories hit its highest level since March 17.
Copper futures for July delivery fell 3.1 cents or 0.82 percent to $3.7455 a pound on the Comex division of the New York Mercantile Exchange.
Imports of the red metal from China decreased 19 percent in the first quarter of 2008 compared to the previous year, according to China's Customs Office.
Crude oil had an effect on copper today as investors fear high energy prices will affect the economy and lower demand for copper mainly used for construction, industry and manufacturing.
Today, crude futures rose for the first time above $133 a barrel on supply and demand worries, generating speculation that fund money is being withdrawn from the metals, according to analysts.
Copper futures for delivery in three months rose $10 or 0.12 percent to $8,383 a metric ton in the London Metal Exchange today.