Copper Futures Decline in New York as U.S. Homebuilding Slump Cuts Demand

(Bloomberg) -- Copper fell for a third straight
session in New York on speculation a slump in homebuilding will
damp demand in the U.S., the world's second-largest consumer of
the metal.

Home resales in the U.S. probably fell for a fourth
straight month in June, economists said before an industry
report today. Copper has fallen 12 percent since reaching a
record high in May 2006 as a decline in U.S. home construction
curbs use of the metal in pipes and wiring.


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