continued to rise due to improved demand

Three-month copper on the London Metal Exchange (LME) CMCU3 rose 1.5% to $9,687 a tonne, after hitting its highest since July 17 at $9,700 earlier in the session.

The most-traded October copper contract on the Shanghai Futures Exchange (SHFE) SCFcv1 rose 1.8% to 76,760 yuan ($10,908.52) a tonne. It hit 76,780 yuan, its highest since July 19, earlier in the session.

China's copper consumption is typically stronger around late September and December.

"Demand has been good in the past few weeks. Rebar output in September was quite good because of low prices," said CRU analyst He Tianyu, pointing to strong output of home appliances and electric vehicles, along with increased grid investment.

“But people are still uncertain whether the peak season has arrived as copper prices have recovered recently. SHFE inventories have fallen quite sharply. I expect copper demand and prices to improve in the fourth quarter,” he added.

The latest SHFE copper inventory was 164,938 tonnes, the lowest since February 8.

China's central bank has announced broad monetary stimulus and property market support measures. The country has introduced support policies for home appliances and electric vehicles.

The U.S. Federal Reserve is expected to deliver more cuts next year after last week’s 50 basis point reduction, which could boost demand for physical metals and pressure the dollar, making the greenback-denominated metal cheaper for holders of other currencies.

LME aluminum CMAL3 rose 1.4% to $2,529.50 a tonne, zinc CMZN3 rose 2% to $2,941.50, nickel CMNI3 rose 0.8% to $16,675, lead CMPB3 rose 0.9% to $2,076 and tin CMSN3 rose 1% to $32,620.

SHFE aluminum SAFcv1 rose 0.7% to 19,980 yuan a tonne, nickel SNIcv1 rose 1.2% to 126,690 yuan, zinc SZNcv1 rose 1.4% to 24,010 yuan, lead SPBcv1 rose 1.5% to 16,655 yuan and tin SSNcv1 rose 0.8% to 261,260 yuan.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-25-9-tiep-da-tang-do-nhu-cau-cai-thien.html