Copper fell for a fourth day in New York as budget talks faltered in the U.S., the second-biggest metal buyer. House Speaker John Boehner’s “Plan B� would put “too big a burden on the middle class� and President Barack Obama would veto it, White House Communications Director Dan Pfeiffer said. Copper stockpiles in warehouses monitored by the London Metal Exchange climbed to the highest since Feb. 15, signaling excess supplies. “Base metals have extended yesterday’s losses this morning, due to concerns that fiscal cliff negotiations have deteriorated,� RBC Capital Markets Ltd. said in a report today. Copper for March delivery dropped 0.8 percent to $3.5755 a pound by 7:07 a.m. on the Comex in New York. The metal fell as much as 0.9 percent to $3.572 a pound, the lowest since Nov. 29. It’s gained 4.1 percent this year after falling 23 percent last year. Copper for delivery in three months fell 0.9 percent to $7,852.50 a metric ton on the LME. Comex copper fell below its 100-day and 200-day moving averages, a signal to some analysts who study technical charts of potential further declines. House Republican leaders are considering giving members a chance to vote on spending cuts to firm up support for Boehner’s tax measure, said a Republican lawmaker and a congressional aide who spoke on condition of anonymity. LME copper stockpiles expanded for an 11th session to 311,925 tons, the longest streak since January 2011. Canceled warrants, or orders to remove metal from warehouses, jumped 5.3 percent to 53,300 tons, the highest since Oct. 9. Bookings gained in Gwangyang, South Korea, and New Orleans. Aluminum, zinc, lead, nickel and tin also fell in London. 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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