The drop hit its lowest level in three weeks.

Copper prices fell by more than 1% on the London Metal Exchange.

The metal fell more than 1% on the London Metal Exchange (LME) as sentiment across China's financial markets deteriorated again.

December copper futures fell 1.54% from Monday's close, reaching $4.33 per pound ($9,526 per ton) in early morning trading on the Comex in New York.

Chinese authorities have significantly increased stimulus measures since late September to revive the economy and ensure growth reaches the government's target of around 5% this year.

However, the Chinese economy is likely to grow by 4.8% in 2024, lower than the government 's target. Growth could slow to 4.5% in 2025, maintaining pressure on policymakers as they consider further stimulus measures.

"The main pressure is coming from the consumer side, related to deflationary pressure," said Xing Zhaopeng, ANZ's senior strategist for China.

Last week, China's finance minister pledged to "significantly increase" debt to revive growth, leaving investors speculating about the overall size of the stimulus package.

The government will release third-quarter GDP data and September retail sales, industrial production, and investment figures on October 18th.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-17-10-giam-cham-muc-thap-nhat-trong-ba-tuan.html