slightly lower on London exchange

Copper futures on the London Metal Exchange (LME) fell 0.2% in three-month contracts.

Three-month copper futures on the London Metal Exchange (LME) fell 0.2% to $9,371 per ton in regular trading. Copper had reached $9,466.5 in the previous session, the closest level seen on July 18.

Trading interest was not strong, with half-day turnover of 7,287 lots, compared to a daily trading volume of 20,402 lots on Tuesday.

Both copper and aluminum are likely to trade within a narrow range as funds prepare their positions ahead of the Fed's decision, a trading source said.

Aluminum fell 0.4% to $2,519 with large futures positions on the LME for buying aluminum in October and selling it in November.

Major metal prices, largely supported by a weaker US dollar, are currently at a one-year low due to increased expectations of excessive interest rate cuts from the US central bank. A weaker dollar makes metals priced in US dollars cheaper for holders of other currencies.

But zinc and lead prices came under pressure after inventories at LME-supervised warehouses in Singapore surged.

Three-month zinc futures fell 0.8% to $2,923 and lead declined 1% to $2,019.

Lead inventories increased by 17% or 30,225 tonnes to 205,000 tonnes, while zinc inventories rose by 12,950 tonnes.

However, the increase suggests little change in the supply and demand for zinc and lead, another trader source said, due to large inflows and outflows of the two metals at Asian lease sites over the past few months.

For other metals, nickel fell 0.7% to $16,175 and tin declined 0.3% to $31,850 per ton.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-18-9-giam-nhe-tren-san-luan-don.html