Copper rises to 2 week high as US data tops estimates

The base metal prices on the London Metal Exchange (LME) closed lower mostly on Friday, but the copper price reached a two-week high.
Copper price closed higher sequentially on speculation that demand would increase after stronger-than-expected housing data in the United States, the world’s second-largest consumer of the metal.
The New York-based Copper Development Association said building construction accounts for nearly half of all copper use. The association estimated that the average single-family home uses 439 pounds of copper this week.
The three-month unofficial copper price increased 35.5 U.S. dollars, or 0.50 percent, to 7,075 dollars per tonne.
The three-month unofficial aluminium price lost 9.5 dollars, or 0.46 percent, to 2,059 dollars a tonne.
The three-month unofficial lead price lost 6 dollars, or 0.27 percent, to 2,252 dollars a tonne.
Besides, the three-month unofficial zinc price lost 19 dollars, or 0.80 percent, to 2,345 dollars a tonne.
The three-month unofficial nickel price lost 162.5 dollars, or 0.86 percent, to 18,725 dollars a tonne.
The three-month unofficial tin price lost 150 dollars, or 0.67 percent, to 22,162.5 dollars a tonne.