Copper metal prices today, June 21, increased due to supply concerns.

Three-month copper on the London Metal Exchange CMCU3 rose 0.5%.

Three-month copper on the London Metal Exchange (LME) CMCU3 rose 0.5% to $9,835 a tonne, while the most-traded July copper contract on the Shanghai Futures Exchange (SHFE) SCFcv1 closed up 1.2% at 79,390 yuan ($10,934.96) a tonne.

The governor of the People's Bank of China said the bank will stick to its accommodative monetary policy stance and will resolutely prevent the exchange rate from soaring.

Meanwhile, Anglo American's copper output at its Los Bronces mine in Chile is expected to fall by almost a third from the historical average next year, suggesting tight supplies of the raw material.

As copper prices fell over the past week, companies said end-user orders have returned, leading to a decline in domestic spot inventories, Jinrui Futures said in a report.

Copper prices on the LME fell to as low as $9,551 earlier this week from a record high above $11,000 reached just a month earlier. SHFE copper inventories fell to 330,753 tonnes.

Prices are expected to be supported in the short term thanks to easing measures and improving spot physical copper demand, Jinrui added.

However, a surge in LME copper inventories capped gains, with copper also entering its traditionally slow demand season.

The possibility of a smaller-than-previously expected US interest rate cut is also weighing on metal prices.

LME aluminium CMAL3 rose 0.7% to $2,515.50 a tonne, nickel CMNI3 rose 0.9% to $17,510, zinc CMZN3 fell 0.1% to $2,867, lead CMPB3 fell 0.3% to $2,192 while tin CMSN3 rose 1.6% to $32,905.

SHFE aluminium SAFcv1 rose 0.6% to 20,595 yuan/t, nickel SNIcv1 rose 1.3% to 135,400 yuan, zinc SZNcv1 rose 1% to 23,840 yuan, tin SSNcv1 rose 2.5% to 273,400 yuan while lead SPBcv1 fell 2.4% to 18,790 yuan.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-21-6-tang-do-lo-ngai-ve-nguon-cung.html