Copper fell on Thursday on investor concern that a slowing U.S. economy will mean reduced demand for the metal.

Recent moves by central banks to spur economic growth may have helped investors cut their losses in metals but they may not be enough to ward off a slowdown.

On Wednesday, the U.S Federal Reserve and major central banks proposed a plan to lend more money to banks to increase their ability to pay off debts.

Prior to those moves on Tuesday, the Fed lowered its benchmark lending rate by a quarter percentage point to 4.25 percent to give a boost to the economy by encouraging more borrowing.

Some economists would have preferred to see a more aggressive move by the Fed, saying a half percent drop in interest rates would do a better job of stimulating the economy.

Copper fell despite a U.S. Commerce Department report showing that retail sales were up 1.2 percent in November, more than expected.

Copper futures for March delivery were down 7.5 cents or 2.47 percent, to $2.961 per pound on the COMEX division of the New York Mercantile Exchange at 1:19 p.m.