The price of copper is falling as signs of an improving U.S. economy take a back seat to unanswered questions about the prospects for a solution to Greece's financial crisis.
Copper for March delivery ended down 1.05 cents Thursday at $3.791 per pound.
Two reports are offering proof of the improving U.S. economy. The Labor Department said weekly applications for unemployment benefits dropped for the fourth time in five weeks to the lowest point since March 2008.
In addition, the Federal Reserve Bank of Philadelphia said its index of regional manufacturing activity rose to 10.2 in February from 7.3 in January.
Meanwhile, negotiations continued over ways to allocate more bailout funding to Greece. Without it, Greece faces default on a massive debt and the possibility that it may have to leave the union of countries that use the euro as currency.
Other metals prices were mixed. Gold for April delivery rose 30 cents to finish at $1,728.40 an ounce, March silver fell 3.8 cents to $33.37 an ounce and March palladium rose $12.95 to $696.60 per ounce. April platinum fell $12.10 to end at $1,626.10 per ounce.
Benchmark crude oil finished at $102.31 per barrel on the New York Mercantile Exchange.
In agriculture contracts, wheat rose 2.75 cents to end at $6.2875 per bushel, corn increased 9.25 cents to $6.3625 per bushel and soybeans fell 2.75 cents to $12.5825 per bushel.
