(Bloomberg) -- Copper prices fell in Asia after a
report showed confidence among homebuilders in the U.S., the
second-largest consumer of the metal after China, dropped this
month to the lowest since February 1991.
The National Association of Home Builders/Wells Fargo index
of sentiment fell to 28 this month from 30 in May. Readings
below 50 mean most respondents view conditions as poor. Builders
are the biggest copper users in the U.S., with an average home
containing about 400 pounds of the metal.
Read more at Bloomberg Commodities News
report showed confidence among homebuilders in the U.S., the
second-largest consumer of the metal after China, dropped this
month to the lowest since February 1991.
The National Association of Home Builders/Wells Fargo index
of sentiment fell to 28 this month from 30 in May. Readings
below 50 mean most respondents view conditions as poor. Builders
are the biggest copper users in the U.S., with an average home
containing about 400 pounds of the metal.
Read more at Bloomberg Commodities News
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