Three-month copper on the London Metal Exchange (LME) rose 1.1% to $9,449 a tonne. The contract fell to its lowest since Sept. 18 at $9,302 a tonne on Wednesday.
The most-traded December copper contract on the Shanghai Futures Exchange (SHFE) fell 1.4 percent to 76,370 yuan ($10,644.35) a tonne. Earlier in the session, it fell to 75,520 yuan, its lowest since Sept. 23, tracking overnight losses in London.
"There are market expectations that China will ramp up stimulus measures following Trump's victory to counter the fallout from plans to impose tariffs on Chinese imports," a trader said.
The US Federal Reserve is expected to cut interest rates again later in the day, which is likely to support economic growth and metals demand, while weakening the US dollar, making the greenback-denominated metal cheaper for holders of other currencies.
However, Donald Trump's victory has raised concerns that major electrification initiatives will be reversed, reducing demand for metals, including copper, and the global metals supply-demand balance could be affected, causing potential price volatility.
Copper falls sharply as Trump win raises fears of slowdown in energy transition
LME aluminium rose 0.8% to $2,635.50 a tonne, nickel rose 1.2% to $16,315, zinc rose 1.5% to $3,016.50, while lead fell 0.2% to $2,044 and tin rose 0.8% to $31,610.
SHFE aluminium rose 1.7% to 21,425 yuan a tonne, nickel rose 0.9% to 127,050 yuan, lead rose 1.2% to 16,880 yuan, while zinc was almost flat at 25,100 yuan and tin fell 0.9% to 260,380 yuan.
Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-8-11-tang-do-hy-vong-nhu-cau-phuc-hoi.html
Comment (0)