US MIDDAY: copper slides

In New York, the key COMEX March contract fell 2.50 cents to settle at $3.8145 per lb, after dealing between $3.7840 and $3.8590. It too touched its priciest level in five months last week at $3.9895. Copper bears latched on to data on Tuesday showing US retail sales rose less than expected in January as consumers cut back on car purchases and did less online shopping.
"It all falls back to credit ... people are not spending," said Zachary Oxman, managing director with TrendMax in Encinitas, California.