up on signs of good demand

Three-month copper on the London Metal Exchange (LME) CMCU3 rose 0.3%.

Three-month copper on the London Metal Exchange (LME) CMCU3 rose 0.3% to $9,508.50 a tonne.

The most-traded October copper contract on the Shanghai Futures Exchange (SHFE) SCFcv1 fell 0.4% to 75,430 yuan ($10,707.34) a tonne.

Copper prices hit a two-month high after the Federal Reserve began its monetary easing cycle last week with a larger-than-usual half-percent cut.

The rate cut brightens the economic outlook and is also expected to increase demand for industrial metals.

Also boosting sentiment, copper consumption in China rose due to seasonal demand and previously lower prices.

Copper volumes traded on SHFE continued to fall to 164,938 tonnes on Friday and have more than halved from a multi-year peak in early June.

Yangshan premium copper prices, an indicator of import demand, hit a nine-month high last week.

The dollar hit a two-week high on Friday after the Bank of Japan left interest rates unchanged and signaled it was in no rush to raise them again. The dollar edged up in Asian trading on Monday.

LME aluminium CMAL3 fell 0.1% to $2,482 a tonne, zinc CMZN3 was unchanged at $2,875, nickel CMNI3 fell 0.3% to $16,455, lead CMPB3 fell 0.4% to $2,046 and tin CMSN3 fell 0.6% to $31,945.

SHFE aluminum SAFcv1 fell 1.1% to 19,855 yuan/t, nickel SNIcv1 fell 0.6% to 124,880 yuan, zinc SZNcv1 fell 1.5% to 23,800 yuan, lead SPBcv1 fell 1.9% to 16,325 yuan, and tin SSNcv1 fell 0.4% to 258,900 yuan.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-24-9-tang-nho-dau-hieu-nhu-cau-tot.html