increased on signs of good demand

The three-month copper contract CMCU3 on the London Metal Exchange (LME) rose 0.3%.

Three-month copper futures on the London Metal Exchange (LME) CMCU3 rose 0.3% to $9,508.50 per ton.

The most actively traded October copper contract on the Shanghai Futures Exchange (SHFE), SCFcv1, fell 0.4% to 75,430 yuan ($10,707.34) per ton.

Copper prices hit a two-month high after the Federal Reserve began its monetary easing cycle last week with a larger-than-usual half-percentage-rate cut.

The interest rate cut clarifies the economic outlook and is also expected to boost demand for industrial metals.

Also boosting sentiment, copper consumption in China increased due to seasonal demand and previously lower prices.

Copper holdings traded on the SHFE continued to fall, dropping to 164,938 tonnes on Friday, more than halved from their multi-year peak in early June.

Yangshan premium copper prices, an indicator of import demand, hit a nine-month high last week.

Putting pressure on the market, the US dollar hit a two-week high on Friday after the Bank of Japan kept interest rates unchanged and indicated it was not in a hurry to raise rates again. The dollar edged higher in Asian trading on Monday.

LME aluminum CMAL3 fell 0.1% to $2,482/tonne, zinc CMZN3 unchanged at $2,875, nickel CMNI3 down 0.3% to $16,455, lead CMPB3 down 0.4% to $2,046 and tin CMSN3 down 0.6% to $31,945.

Aluminum prices on the SHFE fell 1.1% to 19,855 yuan/tonne, nickel prices fell 0.6% to 124,880 yuan, zinc prices fell 1.5% to 23,800 yuan, lead prices fell 1.9% to 16,325 yuan, and tin prices fell 0.4% to 258,900 yuan.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-24-9-tang-nho-dau-hieu-nhu-cau-tot.html