Copper metal price today, November 11, continues to decrease

Three-month copper on the London Metal Exchange (LME) fell 2.3%.

Three-month copper on the London Metal Exchange (LME) fell 2.3% to $9,441 a tonne.

The most-traded December copper contract on the Shanghai Futures Exchange closed up 1.5% at 77,100 yuan ($10,753) a tonne ahead of China's stimulus announcement.

US Comex copper futures fell 2.8% to $4.31 a lb. China’s support package announced on Friday eased the strain on local governments’ debt repayments and signaled more stimulus in the pipeline for the country’s slowing economy .

“Clearly the market is disappointed; they want more from China,” said Nitesh Shah, commodities strategist at WisdomTree. “Expectations were set very high and there were a lot of warm words from officials about fiscal policy support, but the market is growing impatient.”

Investors are concerned about US President-elect Donald Trump's threats to impose tough tariffs on China, which could dampen demand for metals.

“I’m interpreting today’s announcement as, rather than announcing big stimulus measures up front, China is waiting to see what trade restrictions are coming and holding back some cash for stimulus at that time,” Shah added.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-11-11-tiep-tuc-giam.html