(Bloomberg) -- Copper in Shanghai fell for a third
day to the lowest in a week on signs that the U.S. housing market
remains mired in recession, damping demand in the world's second-
biggest consumer of the metal after China.
Sales of existing homes in the U.S. fell a fourth straight
month in June, the National Association of Realtors said in
Washington yesterday. Builders are the biggest users of copper in
the U.S., accounting for almost half of consumption. A stronger
dollar also made the metal, used in wires and pipes, more
expensive for holders of other currencies.
Read more at Bloomberg Commodities News
day to the lowest in a week on signs that the U.S. housing market
remains mired in recession, damping demand in the world's second-
biggest consumer of the metal after China.
Sales of existing homes in the U.S. fell a fourth straight
month in June, the National Association of Realtors said in
Washington yesterday. Builders are the biggest users of copper in
the U.S., accounting for almost half of consumption. A stronger
dollar also made the metal, used in wires and pipes, more
expensive for holders of other currencies.
Read more at Bloomberg Commodities News
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