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Tuesday, August 19, 2014
Copper Trades Near One-Week High on U.S. Homebuilder Sentiment
Copper in London traded near the highest price in almost a week after data showed confidence among U.S. homebuilders rose to the highest in seven months. Nickel rose.
The metal for delivery in three months on the London Metal Exchange was little changed at $6,899.75 a metric ton at 9:58 a.m. in Tokyo. It advanced 0.5 percent to close at $6,905 yesterday, the highest since Aug. 12.
The National Association of Home Builders/Wells Fargo sentiment measure climbed to 55 in August from 53 in July, the Washington-based group reported yesterday. The U.S., the second-biggest user of copper, reports inflation data today.