Copper Futures Drop in New York on Signs That U.S. Demand May Remain Weak

(Bloomberg) -- Copper fell for a third session in
New York, the longest string of declines in more than a month, on
signs demand may weaken in the U.S., the world's second-largest
consumer of the metal.

Permits for new U.S. home construction fell 7.5 percent in
June to an annual rate of 1.406 million, from 1.52 million in
May, the Commerce Department said today. Builders are the biggest
users of copper in the U.S. The metal has fallen 12 percent since
reaching a high in May 2006 as a U.S. housing slump slashed
demand.


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