Reuters METALS-Copper ends near 1-mth low on weak US housing data

* Base metals all fall sharply on dreary US housing data

* July U.S. existing home sales plummet 27 percent

* Coming up: US July new homes sales, durable goods data
(Recasts, updates prices, market activity to New York close, adds second
byline, dateline, previously LONDON)

By Selam Gebrekidan and Maytaal Angel

NEW YORK/LONDON, Aug 24 (Reuters) - Copper futures tumbled on Tuesday to
their lowest level in nearly a month after U.S. July new home sales data fell
more than expected, reinforcing worries about the demand outlook.

Benchmark copper CMCU3 on the London Metal Exchange ended at $7,137 from
a close of $7,255 on Monday. The metal used in power and construction touched a
session low of $7,105 a tonne, its lowest since July 28.

Copper for September delivery HGU0 fell 5.05 cents, or 1.53 percent, to
close at $3.241 per lb on the COMEX metals division of the New York Mercantile
Exchange.

Copper slumped after news that sales of previously owned U.S. homes in July
dropped more steeply than expected, exacerbating worries about the economy.
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"Very poor homes sales numbers have seen base metals weaken significantly,"
said David Thurtell, analyst at Citi.

PREMIUM

Aluminium CMAL3, used in transport and packaging, was untraded at the
close, but bid at $2,028 a tonne from $2,040 on Monday, having hit its lowest
since July 22 at $2,010.

Traders are watching a premium, or backwardation, of around $6 a tonne on
LME aluminium to be delivered on Wednesday and bought back on Thursday -- known
as the tom/next, and often used to lend metal to entities who are short.
CMALT-0

The backwardation has emerged because of two significant positions holding
between 30 and 40 percent of aluminium stock warrants and cash contracts.
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These holdings are said to be in lieu of financing deals, which have tied
up about 70 percent of LME aluminium stocks. These deals release cash for
producers and earn banks higher returns then they would in money markets.

Tin CMSN3 ended at $20,400, down from $20,460 on Monday. Earlier it
touched $20,160, its lowest since Aug. 12.

Zinc CMZN3 closed at $1,991, down from $2,044 on Monday, having touched a
session low of $1,985.

Battery material lead CMPB3 ended at $2,013 from $2,048. That compares
with a session low of $2,000.

Stainless steel making ingredient nickel CMNI3 ended at $20,599 from
$21,200. It fell as low as $20,510. LINK