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Copper Has Biggest Quarterly Gain Since September

Copper rose, capping the biggest quarterly advance since September, as gains in the housing market signaled higher demand in the U.S., the world’s second-largest consumer.

The number of contracts to purchase previously owned U.S. homes jumped in May by 6.1 percent, the most since April 2010, the National Association of Realtors said today. The Copper Development Association estimates that construction accounts for 40 percent of demand for the metal used in pipes and wires.