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Copper metal price on December 6: slight decrease

Báo Kinh tế và Đô thịBáo Kinh tế và Đô thị06/12/2024


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

Three-month copper on the London Metal Exchange (LME) fell 0.1% to $9,078 a tonne.

"Copper is range-bound as people have exited, risk-off," said Alastair Munro, senior base metals strategist at broker Marex.

LME copper has fallen 10% since hitting a four-month peak on September 30, partly due to disappointment over China’s lack of strong fiscal stimulus to boost its sluggish economy .

Investors are hoping to hear more details from the Central Economic Work Conference later this month, where top leaders will set economic growth targets and plan the agenda for the coming year.

The most-traded January copper contract on the Shanghai Futures Exchange (SHFE) closed down 0.3 percent at 74,530 yuan ($10,258.77) a tonne.

Also weighing on markets were concerns about the impact of tariffs proposed by US President Donald Trump and any retaliation from China.

“A (potential) trade war between the US and China comes at a time when growth is already stagnant in China, with trade restrictions only further weakening demand,” said Kyle Rodda, senior financial markets analyst at Capital.

LME aluminium fell 0.4% to $2,637 a tonne, weighed down by producer selling as prices neared $2,700.

LME lead rose 0.2% to $2,090.50 a tonne after hitting $2,099, its strongest since Oct. 17 when it closed short.

LME nickel fell 0.8% to $15,975, zinc rose 0.3% to $3,108.50 and tin rose 0.6% to $29,195.



Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-6-12-giam-nhe.html

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