Summary Box: Industrial metals fall

AP News
Posted: Jul 11, 2011 4:23 PM
Summary Box: Industrial metals fall

METALS DOWN: Industrial metals fell Monday on fears that a growing debt crisis in Europe and weak job growth in the United states would dampen demand at the world's factories. Copper for September delivery fell 4.4 cents to settle at $4.368 a pound.

GROWTH WORRIES: The value of industrial metals generally tracks economic growth. The raw materials like copper are used to make everything from minivans to iPads.

OIL DOWN: Oil prices fell as traders assumed weaker economic growth and stagnant U.S. job creation would crimp demand for energy. Crude oil for August delivery fell $1.05 to settle at $95.15 per barrel on the New York Mercantile Exchange.