Copper metal price today October 31 decreased before the US election

Three-month copper on the London Metal Exchange (LME) edged up 0.1%.

Three-month copper on the London Metal Exchange (LME) edged up 0.1% to $9,542 a tonne, while the most-traded December copper contract on the Shanghai Futures Exchange (SHFE) edged up 0.2% to 76,670 yuan ($10,756.02) a tonne.

Earlier in the session, both contracts fell slightly before recovering to trade higher.

The tight US election, scheduled for November 5, will reveal how economic policies will shape the world’s largest economy over the next four years, which could also provide clues about the impact on metals.

China's top legislature will meet from November 4 to 8. The country is considering approving next week the issuance of more than 10 trillion yuan in additional debt over the next few years to revive its fragile economy.

Rising tensions in the Middle East are also pushing investors towards safe-haven assets such as gold and the US dollar, while reducing risk appetite in other markets such as base metals, a metals trader said.

The dollar has hovered around its highest level since August, making the greenback-denominated metal more expensive for holders of other currencies.

Premiums for copper imports into China have also fallen and stood at $48 a tonne on Tuesday, the lowest since August 5 and indicating weaker demand.

LME aluminium fell 0.1% to $2,655.50 a tonne, nickel rose 0.2% to $15,900, lead rose 0.5% to $2,013, tin rose 0.6% to $31,280 and zinc fell 0.1% to $3,119.50.

SHFE aluminum edged up 0.4% to 20,865 yuan a tonne, nickel edged up 0.2% to 124,690 yuan, zinc edged down 0.2% to 25,030 yuan, lead edged up 0.3% to 16,730 yuan and tin edged down 0.1% to 255,320 yuan.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-31-10-giam-truoc-them-bau-cu-my.html