Copper Jumps Most in Three Weeks on U.S. Building-Permit Gain
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Copper prices jumped the most in three weeks after a gain in U.S. building permits boosted demand prospects for the metal used in electrical wiring and plumbing.
Permits, a gauge of future construction, rose 2.1 percent last month to a 586,000 annual pace, the government said today. The gain was the first since March and was more than economists expected. Housing starts fell 5 percent from the previous month. Builders are the biggest users of copper and use about 400 pounds (181 kilograms) in the average home.