dropped sharply to its lowest level.

Copper futures for delivery in three months on the London Metal Exchange (LME) fell 1.1%.

Copper futures for delivery in three months on the London Metal Exchange (LME) fell 1.1% to $9,455 per ton. The contract had dropped to a low of $9,435.5 earlier in the session, a level not seen since September 23.

"Many investors are becoming risk-averse and deciding to invest their money elsewhere," said Tom Price, CEO of Panmure Liberum.

He said this asset shift was evident as copper and iron ore prices, which are closely linked to the Chinese economy , came under pressure this month, while gold prices continued to rise.

Pessimistic sentiment toward China, the leading metal consumer, persisted after a lack of new stimulus measures from Thursday's closely watched housing policy press conference disappointed some investors, causing Chinese and Hong Kong stocks to fall.

The real estate sector accounts for a large portion of the demand for industrial metals. "There have been many big announcements, but nothing has materialized," Price said.

China will soon release key economic indicators such as third-quarter economic output, retail sales, and housing prices.

The US dollar fluctuating near its highest level in 11 weeks also makes metals more expensive for holders of other currencies and puts pressure on their prices.

LME aluminum fell 0.9% to $2,561 a ton, nickel fell 1.8% to $16,965, zinc fell 1.9% to $2,993.5, lead fell 0.6% to $2,072 and tin fell 2.6% to $31,300.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-18-10-giam-manh-xuong-muc-thap-nhat.html