fell to a three-week low

Copper fell more than 1% on the London Metal Exchange.

The metal fell more than 1% on the London Metal Exchange (LME) as sentiment across China's financial markets soured again.

Copper for December delivery fell 1.54% from Monday's close to $4.33 a pound ($9,526 a tonne) in early morning trading on the Comex division of the New York Mercantile Exchange.

Chinese authorities have ramped up stimulus since late September to revive the economy and ensure growth meets the government's target of around 5% this year.

However, China’s economy is likely to grow 4.8% in 2024, below the government’s target. Growth could cool to 4.5% in 2025, keeping pressure on policymakers as they consider more stimulus.

“The main pressure is coming from the consumption side, which is related to deflationary pressure,” said Xing Zhaopeng, senior China strategist at ANZ.

Last week, China’s finance minister pledged to “significantly increase” debt to revive growth, leaving investors guessing about the overall size of the stimulus package.

The government will release third-quarter GDP data and September retail sales, industrial production and investment data on October 18.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-17-10-giam-cham-muc-thap-nhat-trong-ba-tuan.html