OCT 23 THURSDAY

Copper Drops to Lowest in Almost Three Years

as Demand Wanes .

Copper prices tumbled to the lowest in almost three years as

a global economic slump reduces consumption of the metal

used in pipes and wires.

Copper futures for December delivery fell 14.15 cents, or

7.1 percent, to $1.8655 a pound on the Comex division of

the New York Mercantile Exchange. Earlier, the price

touched $1.823, the lowest for a most-active contract

since Nov. 23, 2005.

Copper has plummeted 56 percent from a record $4.2605 on May 5.

Slowing economies in China and the U.S., the world's two

biggest consumers of the metal, will keep driving down

prices.

A stronger U.S. currency is also weighing on copper.

The dollar gained as much as 2.3 percent today against a basket

of six major currencies, reaching the highest since Nov. 6, 2006.

On the London Metal Exchange, copper for delivery in

three months dropped $343, or 7.6 percent, to $4,155

a metric ton ($1.88 a pound).