Three-month copper on the London Metal Exchange (LME) fell 2.3% to $8,975 a tonne in open trading, its lowest since August 15.
Recent data from China showed manufacturing activity fell to a six-month low in August and new home price growth slowed in August.
China's crisis-hit factories and real estate sectors are major consumers of copper and other industrial metals.
"People are again focused on some weaknesses and fundamentals. China is not growing strongly and the macroeconomic backdrop is clearly weak. China is in a holding phase right now. They are waiting for the US Federal Reserve to cut interest rates, which would give the PBOC a green light to do much broader monetary easing," said Nitesh Shah, commodity strategist at WisdomTree.
Goldman Sachs sharply cut its 2025 copper price forecast on Monday, projecting an average price of $10,100 a tonne, down from its previous forecast of $15,000. The depletion of copper inventories and the accompanying price rally may come much later than previously expected.
Another factor weighing on metals was a two-week high in the dollar index. A stronger dollar makes metals priced in U.S. dollars more expensive for buyers using other currencies.
LME zinc fell 1.3% to $2,803 a tonne, after rising more than 8% in August as supply concerns helped zinc prices post their best monthly gain since April.
Among other metals, LME aluminium fell 0.8% to $2,404.50 a tonne, nickel fell 0.8% to $16,500 and lead also fell 0.8% to $2,042.50 while tin fell 1.6% to $30,890 after hitting its weakest level in nearly four weeks.
Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-4-9-giam-xuong-muc-thap-nhat-trong-hai-tuan.html
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