Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Copper Climbs for Second Day on U.S. Home-Sales Data

Dec. 27 (Bloomberg) -- Copper futures advanced after new home sales rose to the highest in more than two years in the U.S., the world’s second-biggest consumer of the metal.

Home purchases climbed 4.4 percent to a 377,000 annual pace in November, the most since April 2010, following a revised 361,000 rate in October, Commerce Department data showed today. In China, the top copper user, profit at industrial companies rose for the third straight month.

“You have a recipe for higher copper prices with the home-sales numbers and strong Chinese industrial-profit data,” David Meger, the director of metal trading at Vision Financial Markets in Chicago, said in a telephone interview.

Copper futures for March delivery increased 0.1 percent to settle at $3.601 a pound at 1:15 p.m. on the Comex in New York. Yesterday, the price climbed 1.5 percent. This year, the metal has gained 4.8 percent.

Chinese industrial companies’ profit rose 23 percent in November from a year earlier to 638.5 billion yuan ($102 billion), the National Bureau of Statistics said today. Urbanization is expected to spur 40 trillion yuan of investment by 2020, the Southern Metropolis Daily reported on Dec. 25, citing a draft plan by the National Development and Reform Commission.

On the London Metal Exchange, copper for delivery in three months rose 1.3 percent to $7,915 a metric ton ($3.59 a pound). The exchange was closed for the past two days for public holidays.

Aluminum, zinc, lead and tin increased in London, while nickel slipped.

To contact the reporters on this story: Agnieszka Troszkiewicz in London at; Debarati Roy in New York at

To contact the editor responsible for this story: Patrick McKiernan at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.