(Bloomberg) -- Copper futures fell by the most in a
week in New York after a report showed U.S. housing starts fell
in May, raising concern demand from homebuilders will slump in
the world's second-largest consumer of the metal.
Builders broke ground on new houses at an annual rate of
1.47 million, down 2.1 percent from April, the U.S. Commerce
Department said today. Copper has fallen 16 percent since
reaching a high in May 2006 as declining home construction helped
lower U.S. demand by 6 percent last year.
Read more at Bloomberg Commodities News
week in New York after a report showed U.S. housing starts fell
in May, raising concern demand from homebuilders will slump in
the world's second-largest consumer of the metal.
Builders broke ground on new houses at an annual rate of
1.47 million, down 2.1 percent from April, the U.S. Commerce
Department said today. Copper has fallen 16 percent since
reaching a high in May 2006 as declining home construction helped
lower U.S. demand by 6 percent last year.
Read more at Bloomberg Commodities News
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