Copper dropped for a third day on mounting tensions in Syria before a report that may show the U.S. economy grew more than previously estimated, adding to the case for the Federal Reserve to taper stimulus.
U.S. gross domestic product probably grew 2.2% in the second quarter, up from the government’s earlier estimate of 1.7% percent, a survey of economists shows.
The Fed may pare its $85 billion a month in bond purchases at its Sept. 17-18 meeting, according to 65% of surveyed economists. Fed Chairman Ben S. Bernanke has signaled the prospect of cuts to stimulus should the economy and job market continue to improve.
The metal for delivery in three months on the London Metal Exchange sank as much as 0.6% to $7,243.50 a metric ton. The price is up 5.6% this month, set for the best month since September.
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