price slide due to instability concerns

Three-month copper on the London Metal Exchange (LME) fell 0.4%.

Three-month copper on the London Metal Exchange (LME) fell 0.4% to $9,052.50 a tonne.

LME copper has fallen 11% since hitting a four-month peak on September 30, due to concerns about demand in top metals consumer China and a strong dollar following Donald Trump's election victory in the US.

“The market is worried about quite a lot of things right now,” said Nitesh Shah, commodity strategist at WisdomTree.

The metals market has also been disappointed by the scope of stimulus China has rolled out so far to boost its sluggish economy .

“China has some policy decisions to make, you have geopolitical risks in Ukraine and you have proposed tariffs in the US and the spillover effects on interest rate policy. There are quite a lot of unknowns, so that’s why we could see a complex range of base metals trading before we have some answers,” Shah said.

The US could impose tariffs of nearly 40% on imports from China early next year, potentially cutting growth in the world's second-largest economy by up to 1%.

The most-traded December copper contract on the Shanghai Futures Exchange edged up 0.1% at 74,440 yuan ($10,281.06) a tonne.

Another factor weighing on the market was a stronger US dollar index, making the greenback-denominated metal more expensive for buyers using other currencies.

Among other metals, LME aluminium fell 0.7% to $2,626 a tonne, zinc fell 0.4% to $2,975, lead fell 1.5% to $1,991, tin fell 0.1% to $29,005 while nickel rose 0.7% to $16,010.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-22-11-truot-gia-do-lo-ngai-bat-on.html