By Millie Munshi June 28 (Bloomberg) -- Copper prices fell for the first time in three sessions as the dollar’s advance curbed demand for the metal as an alternative investment. The greenback rose as much as 0.2 percent against a basket of six currencies, heading for the first gain in four sessions. The Reuters/Jefferies CRB Index of 19 raw materials declined as much as 0.5 percent. Before today, copper dropped 7 percent this year on concern that slowing economic growth will reduce consumption of the metal used in pipes and wires. “The dollar is hurting most of the commodities today,” said Michael K. Smith, the president of T&K Futures & Options in Port St. Lucie, Florida. “There’s also still a lot of concern about growth and talk of a double-dip recession. Until those fears subside, copper is going to have a hard time.” Copper futures for September delivery fell 1.5 cents, or 0.5 percent, to $3.096 a pound at 9:33 a.m. on the Comex in New York. The price was poised for the third straight monthly drop. On the London Metal Exchange, copper for delivery in three months climbed $45.75, or 0.7 percent, to $6,815.75 a metric ton ($3.09 a pound). Nickel, aluminum, lead and tin prices rose on the LME. Zinc dropped. --Editors: Patrick McKiernan, Michael Arndt To contact the reporter on the story: 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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