Copper metal price today October 4 decreased due to strong USD

Three-month copper on the London Metal Exchange (LME) fell 0.8%.

Three-month copper on the London Metal Exchange (LME) fell 0.8% to $10,007 a tonne, after rising 1.1% in the previous session.

"There's a little bit of anxiety in the market because of all the things going on in the world ," said Dan Smith, director of research at Amalgamated Metal Trading. "But I think this is just a temporary pause. I think investor sentiment will prevail over the next two to three months."

In recent weeks, top metals consumer China has taken steps to boost economic growth, including cutting interest rates and mortgage rates, pumping liquidity into banks and easing home-buying restrictions. But others are more cautious about China’s impact.

“The short-term policy stimulus effect on copper is almost over. We saw equity accumulation in China for the first time in September,” said analyst Matt Huang at brokerage BANDS Financial.

He was referring to this week's rise in copper inventories at warehouses tracked by the Shanghai Futures Exchange, the first since the week starting July 1.

Another sign of healthy supply is the $141.16/mt discount for the LME cash contract to the three-month contract, the biggest since July 17.

Trading volume was thin as markets in China were closed for a week-long holiday.

LME aluminum fell 0.4% to $2,668.50 a tonne, down from a four-month high of $2,694 hit earlier in the session. The LME said it was monitoring tightness in the aluminum market.

Among other metals, LME nickel rose 0.7% to $18,275 a tonne, zinc fell 0.1% to $3,169.50, lead fell 0.4% to $2,143 and tin fell 0.2% to $33,835.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-4-10-giam-do-dong-usd-manh.html