October 17 - AP - Base metals declined Wednesday after the Commerce Department reported homebuilding slumped to its lowest level in 14 years, raising concerns that demand for copper and other raw materials could ebb.
In other commodity markets, agriculture futures ended mixed, while oil prices reached a peak and precious metals edged higher.
Although housing news has been grim for more than a year, September's 10.2 percent drop in construction of new homes surprised analysts who on average expected a more modest 4.2 percent decline. It was the slowest pace since March 1993. With the housing downturn showing little sign of a bottom, investors retreated from the industrial metals key to building infrastructure. Read More.
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