Summary Box: Copper prices fall sharply

AP News
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Posted: Nov 01, 2011 3:53 PM
Summary Box: Copper prices fall sharply

COPPER FALLS: Copper for December delivery fell 12.95 cents, or 3.6 percent, Tuesday to settle at $3.5025 a pound.

GREEK WORRIES: Copper fell after Greece's prime minister announced that he would put an unpopular European financial rescue package for his country to a popular vote. If the vote fails, it might lead the country into a messy default and threaten Europe's plan for staving off a financial crisis. Copper prices jumped last week on hopes a European bailout would stoke demand.

OIL DOWN: Benchmark oil lost $1, or 2 percent, to end at $92.19 per barrel.