continue to fall to the lowest level

Benchmark copper on the London Metal Exchange (LME) fell 0.9%.

Benchmark copper on the London Metal Exchange (LME) fell 0.9% to $8,978 a tonne, having earlier hit $8,977 a tonne, its lowest since Dec. 3.

Already sluggish demand for capital in China is expected to come under further pressure if US President-elect Donald Trump implements punitive tariffs on imports, which could spark a trade war and dent growth.

"There are a lot of unknowns. The biggest is what Trump does, particularly on tariffs. The second is what China does in terms of stimulus to respond to that. Our base case is that the copper market will be oversupplied next year. There will be supply from new mines," said Macquarie analyst Alice Fox.

Macquarie expects mine supply to rise 5.4% to nearly 24 million tonnes next year, leaving a surplus of 300,000 tonnes.

A rising US dollar makes metals more expensive for holders of other currencies, which reduces demand.

Traders said commodity trading advisors (CTAs) that use this relationship in their numerical models have been shorting copper.

The US dollar is likely to hold firm next year as markets expect the US Federal Reserve to cut interest rates only very slowly.

Elsewhere, aluminium hit a one-month low of $2,528 a tonne as concerns about a surplus emerged after data showed output in top producer China rose in November. Prices last fell 1.3% to $2,533.

However, physical market premiums for aluminum in the US, paid above LME prices, have soared because the US relies on imports that will become more expensive with tariffs. They are around $480 a tonne compared with nearly $420 before the election.

Among other metals, zinc fell 0.9% to $3,029, lead fell 0.2% to $1,997, tin fell 0.5% to $29,100 and nickel fell 0.8% to $15,580.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-18-12-tiep-tuc-giam-xuong-muc-thap-nhat.html