1438 GMT [Dow Jones] - LME base metals have bounced from their lows, and Comex copper futures have likewise ticked higher. Prices initially slid in anticipation of soft U.S. economic data, says a research note from MF Global's Mike Rapson. "However, the selling was overdone, as the U.S. dollar weakened and we are currently bouncing up off the bottom," he says. LME copper is up to $4,725 a metric ton from a $4,548 low. Comex Dec copper is at $2.1220 a pound, up from a $2.0420 low and a gain for the day of 3.65 cents. U.S. housing starts fell a larger-than-forecast 6.3%. "The only good news is that at these low levels of starts and permits, we should start to see the housing inventory begin to shrink," Rapson says. (ALS)
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