Copper hits 3-month lows, focus on demand and US rates

Copper traded at $13,645 a tonne on the London Metal Exchange at 1200 GMT on Thursday, down 1.2% and near its weakest level in over three months. Earlier, the metal reached $13,629, its lowest point since July 29. Business Recorder reported that concern over subdued industrial consumption and a stronger US dollar was weighing on prices.

US Federal Reserve officials have highlighted persistent inflation, with a possible 50-basis-point rate rise at the December 8-9 meeting adding to market unease. Analyst Tom Price also cited weak industrial demand and falling technology shares, noting that pressure on AI-related stocks can affect copper demand. Elsewhere, aluminium stocks in LME warehouses stood at 226,350 tons, down nearly 56% since January, while the cash-market premium over three-month aluminium exceeded $175 a ton.