down to its lowest level in four and a half months.

The CMCU3 benchmark coin on the LME fell 1.7%.

Signs of a slowdown in industrial activity in top consumer China have put pressure on copper prices on the London Metal Exchange (LME) over the past few months. Prices have fallen 20% since reaching a record high of over $11,100 in May.

The benchmark CMCU3 on the LME fell 1.7% to $8,905 per ton from its previous high of $8,714 per ton, its lowest level since March 13.

Last week's weak monthly US jobs report and a series of weak earnings reports from major tech companies further eroded confidence in commodity and stock markets.

Liberum analyst Tom Price said: "All of these markets are interconnected. The metals and energy markets are very sensitive to macroeconomic themes. Equity investors actually link some of their portfolios to the commodity markets directly or through indices."

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The London Stock Exchange will reach $10,000 per ton.

down from a five-month high

Slightly higher after three consecutive days of declines.

European stocks fell to their lowest levels in months, while Japanese stocks at one point surpassed the losses of 1987's "Black Monday" when investors fled the stock markets due to concerns about a US economic recession.

Growing expectations of deeper interest rate cuts by the US Federal Reserve to support growth have impacted the US dollar, which will ultimately help support demand for USD-denominated metals.

However, in the short term, the copper market is concerned about the high inventory levels at LME-approved warehouses, which have increased by more than 140% since mid-May to a three-year high of 251,350 tonnes.

According to industry sources, most of the copper delivered to LME warehouses in Asia originates from China.

Elsewhere, CMPB3 lead hit $1,926.5 per ton, its lowest level in nine months. Weak demand and high inventories in the LME system caused the metal's price to fall 4.4% to $1,934.

United States - Vietnam: Don't miss

Strengthening the friendship between Vietnam and the United States.On July 3rd, as part of the Pacific Partnership - Friends of the Pacific 2026 program, the U.S. Army Pacific delegation, led by Lieutenant General Joel Vowell, Deputy Commander of the U.S. Army Pacific, paid a courtesy visit to the Quang Tri Provincial Military Command.

The U.S. Army Pacific delegation visits the Quang Tri Provincial Military Command.2026 marks the first time the Pacific Partnership-Friends of the Pacific program will be jointly organized in Quang Tri, creating a large-scale cooperation framework with 25 activities.

The Ministry of Foreign Affairs received a copy of the Letter of Credence for the U.S. Ambassador to Vietnam.On the afternoon of July 2nd, at the Ministry of Foreign Affairs headquarters, Mr. Le Cong Dung, Director of the State Protocol and Foreign Interpretation Department, received a copy of the Letter of Credence from Ms. Jennifer Wicks, Ambassador of the United States of America to Vietnam.

The large inventory levels are the reason why the price of the precious metal has been continuously falling in the three-month CMPB0-3 contract since March.

Among other metals, aluminum CMAL3 fell 0.4% to $2,254/tonne, zinc CMZN3 fell 0.6% to $2,636, tin CMSN3 fell 2.6% to $29,400, and nickel CMNI3 was little changed at $16,265.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-6-8-xuong-muc-thap-nhat-trong-4-thang-ruoi.html