Copper price today July 19 continues to decrease

Three-month CMCU3 copper futures on the London Metal Exchange (LME) fell 2.6%.

Three-month CMCU3 copper on the London Metal Exchange (LME) fell 2.6 percent to $9,385 a tonne. It had earlier fallen to $9,379.50, its lowest since April 12.

A lack of policy support for the Chinese economy , which consumes half the world's copper, could weigh on the metal's demand outlook.

China's June copper imports fall to 14-month low.

Meanwhile, copper stocks in LME-registered warehouses rose to a 33-month high of 221,100 tonnes, LME data showed. Investors shifting from copper to precious metals also weighed on prices, pointing to large transactions driven by the dim economic outlook.

Gold prices hit a record high on Wednesday, supported by the prospect of a US interest rate cut as early as September.

Lower interest rates typically increase the appeal of non-interest-bearing bullion.

A stronger US dollar, which rebounded after mid-Atlantic manufacturing data rose more than expected in July, also weighed on metals prices.

CMAL3 aluminum hit $2,380 a tonne, its lowest since April 3. It was last down 0.8% at $2,383.

Tin CMSN3 was the biggest loser on the LME, down 4% to $31,640 a tonne, while CMPB3 led the way down 1.6% to $2,156. Zinc CMZN3 lost 1.5% to $2,806 and nickel CMNI3 fell 0.1% to $16,440.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-19-7-tiep-tuc-giam.html