Skip to content
Subscriber Only

Copper Falls Most in Four Months on U.S., China Housing

Copper futures in New York fell the most in four months as a drop in U.S. homebuilder confidence and speculation that China will move to cool property purchases damped demand prospects for the metal used in pipes and wiring.

Builder sentiment in February fell to 46 from January’s 47 that matched the highest reading since April 2006, a National Association of Home Builders/Wells Fargo report showed today. The median forecast in a Bloomberg survey of economists projected a rise to 48. China Business News reported that the nation may introduce more policies to curb property prices.