The decline continues due to concerns about demand.

Three-month copper futures on the London Metal Exchange CMCU3 fell 0.6%.

Three-month copper futures on the London Metal Exchange (LME) CMCU3 fell 0.6% to $9,055 per ton, while the most actively traded September copper contract on the Shanghai Futures Exchange (SHFE), SCFcv1, fell 0.1% to 74,040 yuan ($10,203.83) per ton.

Last week, both contracts hit their lowest levels in more than three and a half months due to concerns about the outlook for Chinese demand following slower-than-expected economic growth in the second quarter and a lack of stimulus from a key political meeting.

Market participants expect interest rate cuts to boost economic and manufacturing activity and support demand for metals.

Citi Research said in a note that copper prices are likely to be difficult to orient in the coming weeks before recovering to $9,500 per ton within three months and reaching $11,000 by early 2025.

LME lead CMPB3 prices rose 1% to $2,087.50/tonne, zinc CMZN3 was little changed at $2,668, tin CMSN3 remained stable at $29,575, nickel CMNI3 fell 0.5% to $15,710 and aluminum CMAL3 fell 0.9% to $2,267.50.

Aluminum price SAFcv1 at SHFE remained unchanged at 19,195 yuan/tonne, nickel price SNIcv1 rose 0.9% to 127,260 yuan, lead price SPBcv1 fell 0.4% to 18,710 yuan, tin price SSNcv1 rose 0.2% to 247,320 yuan, and zinc price SZNcv1 rose 0.5% to 22,790 yuan.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-30-7-tiep-tiep-giam-do-lo-ngai-ve-nhu-cau.html