Copper prices fell for the fifth straight session in New York, the longest slump since December, after a report showed U.S. retail sales dropped unexpectedly in April. The metal tumbled 4.6 percent in the previous four sessions on signs that a rebound in the global economy will be subdued. Retail sales declined 0.4 percent last month, following a 1.3 percent drop in March, the government said today. Economists forecast sales would be unchanged, according to the median of 67 estimates in a Bloomberg News survey. The report “adds to the list of reasons why the recovery won’t be as strong as people had been expecting,” said Michael Pento, the chief economist for Delta Global Advisors Inc. in Holmdel, New Jersey. “I wouldn’t be surprised to see copper consolidate and head a bit lower.” Copper futures for July delivery fell 6.1 cents, or 2.9 percent, to $2.025 a pound at 9:26 a.m. on the Comex division of the New York Mercantile Exchange. The last five-session slump ended on Dec. 18. On the London Metal Exchange, copper for delivery in three months dropped $146.75, or 3.2 percent, to $4,448.25 a ton ($2.02 a pound). The price reached a record $8,940 on July 2.

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