Metals join other commodities in declines

Most metals prices were lower on Monday as investors worried less about inflation as commodities prices generally declined.

May copper traded just half a cent lower in New York to $3.83 per pound in New York and also traded about even in London, where three-month copper was at $8,395 per tonne, or $3.81 per pound.

The declines came even though London Metal Exchange stockpiles were down 2.4 percent on the session to 112,500 tonnes and analysts said that supply will be around 100,000 tonnes short of demand this year.

Still, copper prices were up the most in nearly two years for the first quarter of the year on general demand worries and the weakness of the US dollar.

Precious metals were also lower, with June gold down $15 to $921.50 per troy ounce in New York.

Gold ended the quarter up 10 percent even though prices fell 5.5 percent in March.

May silver was down 63 cents on the session to $17.31 per troy ounce, falling 13 percent in March but still maintaining a gain of 16 percent for the quarter.

July platinum dropped $20.80 to $2,028 per troy ounce in New York on the session.