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Copper Rises to Three-Month High on Gains in U.S. Housing Starts

Copper futures rose to a three-month high after a government report showed housing starts in the U.S., the world’s second-biggest user of the metal, gained more than forecast in June.

Work began on 629,000 houses at an annual pace, topping the highest estimate in a survey of economists by Bloomberg News. Building permits, a sign of future construction, unexpectedly climbed. Copper, used in pipes, wiring and roofing, has gained 4.3 percent this month.