drop to the lowest level

Copper futures for delivery in three months on the London Metal Exchange (LME) fell 2%.

Copper futures for delivery in three months on the London Metal Exchange (LME) fell 2% to $9,141 per ton, after touching its weakest level since September 11 at $9,115.

Sources indicate that US President Donald Trump is expected to choose Senator Marco Rubio as Secretary of State, arguably the toughest candidate on Trump's shortlist and a strong supporter of a hardline policy toward China.

Tom Price, director of commodity strategy at Panmure Liberum, said: "Trump hasn't backed down from the idea of ​​tariffs on China. That would really hurt that economy because it's currently vulnerable and not as strong as it was in 2018/19. We're also now entering a seasonal low for Asian and Chinese metal demand."

The most actively traded December copper contract on the Shanghai Futures Exchange (SHFE) fell 1.6% to 75,310 yuan ($10,406.82) per ton.

Adding to the market gloom is investor disappointment over the scale of China's stimulus measures.

The strengthening US dollar also put pressure on metals, reaching a four-month high against a basket of other major currencies as investors continued to flock to trades seen as benefiting from the Trump administration.

A stronger US dollar makes metals priced in the greenback more expensive for buyers using other currencies.

LME aluminum fell 1.1% to $2,558.50 a ton, nickel dropped 0.7% to $15,995, and zinc declined 1.8% to a seven-week low of $2,925.50.

Tin fell 4.3% to $29,950, its weakest level in more than three months, while lead edged up 0.1% to $2,024.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-13-11-giam-xuong-muc-thap-nhat.html