Copper metal price today, November 1, increased slightly

Copper futures on the London Metal Exchange (LME) rose 0.3% in three-month contracts.

Three-month copper on the London Metal Exchange (LME) rose 0.3% to $9,565 a tonne, while the most-traded December copper contract on the Shanghai Futures Exchange (SHFE) fell 0.1% to 76,560 yuan ($10,752.51) a tonne.

On a monthly basis, LME copper fell 2.8% and SHFE copper fell 2.9%. Metal prices surged in late September after China announced a series of economic support programs and after interest rate cuts in the US.

However, the size of the stimulus measures and lack of details have disappointed market participants. And uncertainty surrounding the US presidential election has kept some traders and investors on the sidelines.

China's top legislature will meet from November 4 to 8, where market participants hope Beijing will announce more measures for its economy.

Metal prices on Thursday were supported by data showing China's manufacturing activity expanded for the first time in six months in October, suggesting the latest stimulus measures are helping turn the ailing economy around.

"It's definitely good news, but (prices) are being overshadowed by government policy," said a trader.

LME aluminium rose 0.2% to $2,620.50, zinc rose 0.1% to $3,090, tin rose 1% to $31,250, while lead fell 0.1% to $2,002 and nickel was almost unchanged at $15,810.

SHFE aluminum prices fell 0.5% to 20,720 yuan/ton, nickel prices fell 0.7% to 123,500 yuan, zinc prices fell slightly by 0.3% to 25,005 yuan, tin prices fell 0.1% to 255,200 yuan, while lead prices rose 0.2% to 16,665 yuan.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-1-11-tang-nhe.html