Copper Futures Decline Most in a Week on Chinese Housing Data
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Copper futures fell the most in a week after a report showed declining property prices in China, the world’s largest metal user.
New-home prices fell in 64 out of 70 cities in January, Chinese government data showed on Tuesday. That signaled an interest-rate cut in November, the first since 2012, hasn’t revived construction yet. Property accounts for about half of China’s copper demand, according to Goldman Sachs Group Inc.