Copper declined in London after rallying the most since February 2010 yesterday, ahead of a report that may show orders for U.S. durable goods fell in August. Bookings for goods meant to last at least three years fell 0.2 percent after a 4.1-percent gain the prior month, according to the median forecast of 77 economists surveyed by Bloomberg News. The data is expected at 1:30 p.m. London time. A separate report may show an index of household sentiment in the 17-nation euro area fell to the lowest in two years. “Particular focus will be on fundamentals and today’s U.S. durable goods orders are likely to put the market to the test,” Credit Suisse Group AG analysts including Stefan Graber in Zurich said in a report today. Copper for delivery in three months fell $126.75, or 1.7 percent to $7,467.25 a metric ton by 10:56 a.m. on the London Metal Exchange. The metal jumped as much as 5.9 percent yesterday for the first day in eight. The contract has retreated 17 percent this quarter, heading for the biggest loss since the period ending December 2008. Copper for December delivery dropped 1.5 percent to $3.3895 a pound on the Comex in New York. European consumer confidence fell to minus 18.9 from minus 16.5 in August, the Brussels-based European Commission said in an initial estimate Sept. 22. The data is due out tomorrow at 10 a.m. London time. Copper Shortfall Copper supply should exceed demand by 120,000 tons in 2012, Deutsche Bank said in an e-mailed report. The bank said it expected a deficit this year of 140,000 tons. “Despite a number of recent strikes, production loss so far this year has been in line with our disruption allowance,” analysts including Xiao Fu in London said in the report. Copper prices could dip to as low as $6,000 before the end of this year, given a weak growth outlook, Edward Meir, a senior commodity analyst at MF Global Holdings Ltd., wrote in a report yesterday. Tin for delivery in three months on the LME retreated 1.4 percent to $21,500 a ton. The metal climbed as much as 7.2 percent yesterday after Indonesia, the biggest exporter of tin, said it plans to halt overseas shipments from Oct. 1 to support prices after a slump. Orders to draw tin from warehouses tracked by the London Metal Exchange climbed 640 metric tons to 5,740 tons, the highest level in more than nine years, bourse data showed today. Aluminum rose 0.5 percent to $2,255 a ton, and zinc declined 0.6 percent to $1,959.50 a ton. Lead fell 0.6 percent to $2,013.25 a ton, nickel dropped 0.9 percent to $18,783 a ton. To contact the reporter on this story: Agnieszka Troszkiewicz in London at atroszkiewic@bloomberg.net To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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