
Three-month copper on the London Metal Exchange (LME) CMCU3 fell 0.5 percent to $8,886 a tonne, reversing gains in the previous session and falling to its lowest in more than four-and-a-half months.
However, the most-traded September copper contract on the Shanghai Futures Exchange SCFcv1 rose 0.8 percent to 71,720 yuan ($9,987.47) a tonne, as most Shanghai metals tracked gains in London in the previous session.
The USD index has recovered and was most recently at 103.20 making greenback-denominated metals like copper more expensive.
The dollar will recoup some of its recent losses over the next three months on expectations financial markets have once again gone too far in pricing in too many Federal Reserve interest rate cuts this year, a Reuters poll of foreign exchange strategists showed.
Copper has seen a major sell-off as risk-on investors fled the market after last week's US data raised fears of a recession.
The sell-off was exacerbated by weak demand in top consumer China, which is scheduled to release July trade data later in the day.
LME aluminium CMAL3 fell 0.3% to $2,289.50 a tonne, zinc CMZN3 fell 0.7% to $2,583, nickel CMNI3 fell 0.5% to $16,305, while tin CMSN3 rose 0.2% to $29,695.
SHFE aluminium SAFcv1 rose 0.9% to 18,995 yuan/t, tin SSNcv1 rose 1.6% to 246,070 yuan, nickel SNIcv1 rose 0.5% to 129,570 yuan, while zinc SZNcv1 fell 0.6% to 22,005 yuan.
Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-8-8-tren-san-luan-don-giam-do-usd-tang.html
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