By Anna Stablum and Millie Munshi May 19 (Bloomberg) -- Copper prices fell for the third time in four sessions as Germany’s ban on some bearish bond investments damped demand for commodities. The MSCI World Index of shares dropped for the fifth straight session day on speculation that economies will slump. The Reuters/Jefferies CRB Index of 19 raw materials fell to the lowest level since October. Before today, copper tumbled 9.6 percent in May on budget concerns in Greece, Spain and Portugal. “Investors are just throwing in the towel and selling commodities across the globe,” said Adam Klopfenstein, a senior market strategist at Lind-Waldock in Chicago. “There’s a lot of fear about owning riskier assets.” Copper futures for July delivery dropped 6.65 cents, or 2.2 percent, to $2.9645 a pound at 11:16 a.m. on the Comex in New York. On May 17, the price touched $2.914, the lowest level for a most-active contract since Feb. 9. The metal also dropped as China, the world’s biggest consumer, moves to restrain its economy. Sales of new homes in Shanghai slid 16 percent to a five-year low last week after the government raised minimum mortgage rates and imposed other restrictions. “Worries about a possible cool-down in China, coupled with euro-zone concerns, are putting metals under pressure,” said Eugen Weinberg, an analyst at Commerzbank AG in Frankfurt. Copper for delivery in three months fell 2.3 percent to $6,541.75 a metric ton ($2.97 a pound) on the London Metal Exchange. Aluminum, zinc, nickel, lead and tin also declined. --Editors: Patrick McKiernan, Michael Arndt To contact the reporters on the story: Anna Stablum in London at astablum@bloomberg.net; Millie Munshi in New York at mmunshi@bloomberg.net To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net.

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