Copper metal price on January 9: reversed to decrease

Three-month copper on the London Metal Exchange (LME) fell 0.4%.

Three-month copper on the London Metal Exchange (LME) fell 0.4% to $8,964 a tonne in open trading.

LME copper has recovered in four trading days after hitting a five-month low of $8,757 last week.

“The market is really trying to understand how big these potential tariffs could be, and I think the problem is that no one really knows the answer,” said Nitesh Shah, commodities strategist at WisdomTree.

Many investors have been on the sidelines following conflicting reports about US President-elect Donald Trump's plans regarding tariffs.

“For all the stimulus promises China made in the final quarter of last year, very little action was taken and you can see that in the economic performance figures,” Shah added.

A stronger dollar index, boosted by strong US data, also weighed on metals markets, making dollar-priced commodities more expensive for buyers using other currencies.

A bright spot for copper is the firm Yangshan copper premium, reflecting demand for copper imports into China. The most recent price was $70 a tonne, up from $43 two months ago.

LME zinc was the worst performer, down 1.3% to $2,838 a tonne, after hitting its weakest in nearly four months.

Alastair Munro, senior base metals analyst at Marex, said the weakness was largely due to selling related to index rebalancing flows, a monthly five-day process that began on Wednesday.

Among other metals, LME aluminium fell 0.7% in official trade to $2,501 a tonne, nickel fell 0.2% to $15,375, lead fell 0.1% to $1,953.50 while tin rose 0.5% to $30,100.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-9-1-quay-dau-giam.html