Copper Futures Fall in New York on Signs of Cooling U.S. Growth
This article is for subscribers only.
Copper fell for the first time in five sessions after home prices decreased and manufacturing cooled in the U.S., the world’s largest consumer after China.
Homes prices in 20 U.S. cities dropped in March to the lowest level since 2003, showing housing remains mired in a slump almost two years into the economic recovery. Business activity cooled more than forecast in May, a sign manufacturing may be leveling off. Copper has dropped 10 percent since touching a record in February partly on concern that European sovereign-debt woes will derail the global recovery.