Copper metal price on December 2: slight increase

Three-month copper on the London Metal Exchange (LME) rose 0.1%.

Three-month copper on the London Metal Exchange (LME) edged up 0.1% to $9,014 a tonne and posted a 5.3% decline in November.

US Comex copper futures rose 0.4% to $4.11 a pound. "The fundamentals are solid right now, it's just that we don't know what's going to happen on the tariff front, so the market is cautious about acting decisively," said Nitesh Shah, commodity strategist at WisdomTree.

US President Donald Trump has threatened to impose tariffs on imports, which would hurt economic growth and metal consumption, especially in China.

The most-traded January copper contract on the Shanghai Futures Exchange (SHFE) closed at 73,830 yuan ($10,216.28) a tonne, posting its second straight monthly loss.

“China is in a wait-and-see mode until they know how bad the tariffs are going to be before they roll out some fiscal stimulus,” Shah added.

LME copper has fallen 11% since hitting a four-month peak of $10.158 on September 30 as investors sold bullish positions on potential tariffs and were disappointed by China’s lack of strong stimulus.

However, some positive signs have emerged in China, including SHFE inventories falling by two-thirds since early June to 108,775 tonnes, the lowest since February 5.

Investors are also hoping that upcoming data will show that China’s stimulus measures are starting to kick in. Analysts expect China’s manufacturing activity to grow modestly for a second straight month in November, while home prices are expected to stabilize in 2026 after falling more slowly this year and next.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-2-12-tang-nhe.html