Copper Rises as Housing Recovery Buoys Demand Outlook
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Copper futures rose for the first time in three sessions as a jump in March home prices added to signs of a recovery in real estate in the U.S., the second-biggest consumer of the metal used in pipes and wiring.
The S&P/Case-Shiller index of property values increased 10.9 percent from a year earlier, the biggest 12-month gain since April 2006, after advancing 9.4 percent in February, a report showed today. The median projection of economists surveyed by Bloomberg called for a 10.2 percent increase.