Copper metal price today November 15 continues to decrease

Three-month copper on the London Metal Exchange fell to $8,867 a tonne.

Three-month copper on the London Metal Exchange (LME) fell to $8,867 a tonne, its lowest since Aug. 12. The most recent trading price fell 1.9% to $8,874.

Prices came under pressure as many traders took advantage of the price gap between the LME and China's Shanghai Futures Exchange (ShFE).

Some LME-ShFE short selling has taken place in the past few days, causing the LME price to fall, said Marex senior metals strategist Alastair Munro.

But the decline may be limited as he sees physical copper buyers returning to the LME after several consecutive days of declines. That includes consumers from South America and Europe, he said.

On the macro front, metal prices remain under pressure from a strong US dollar, which is now at a one-year high. This makes metals priced in the greenback more expensive for holders of other currencies.

Also supporting the dollar are growing expectations that the Federal Reserve will cut interest rates less often next year as inflation remains high. Keeping interest rates high will support dollar buying.

More signals on the future path of policy rates will come from the producer price index (PPI) and comments from Fed Chairman Jerome Powell, expected later in the day.

Among other metals, zinc fell 3 percent to $2,888.50 as China's steel market remained weak, dampening demand for galvanizing.

LME aluminium fell 1% to $2,508 a tonne, nickel fell 0.5% to $15,655, lead fell 1.9% to $1,971 and tin fell 1.9% to $29,075.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-15-11-tiep-tuc-giam.html