Copper Balanced by Chinese, U.S. Data

Three-month copper on the London Metal Exchange was flat Tuesday at $6,905 per tonne, according to Reuters. Some signs for the metal are good, with U.S. homebuilding stocks on the rise and data showing August homebuilder sentiment at its highest level since January. On the other hand, China’s new home prices in July fell for a third straight month, showcasing a property downturn in the world’s largest consumer of copper.

On New York’s Comex, copper for December delivery rose 0.4 percent or $0.01 to trade at$3.1445 per pound, Bloomberg reported.