NewsSignals AI analysis·Reuters·
Copper sinks to 2-1/2 month low as risk aversion grips metals
Grade Abearish AI signal$HG$ALI$ZINC$LEAD$NICKEL$TIN
Copper plunged 2.5% to a nearly 2.5-month low as weakening risk appetite, AI spending concerns and geopolitical uncertainty triggered a broad selloff across industrial metals.
LME copper touched $13,833 per ton, its lowest since August 19, while breaking below its 100-day moving average at $14,053; persistent tight physical supply in China provided some support.
Continued pressure on technology shares, weaker growth expectations and geopolitical tensions could deepen bearish momentum across industrial metals.
Bullish strength: 20/100
- Chinese physical copper supply remains tight.
- Yangshan copper premium remains near $200 per ton, its highest in more than a decade.
- Initial technical support is identified around $13,589.
Bearish strength: 80/100
- Copper fell 2.5% to its lowest level in nearly 2.5 months.
- Price broke below its 100-day moving average at $14,053.
- Concerns over AI and data-center investment are weakening metals demand expectations.
- Geopolitical tensions and uncertainty surrounding US elections are weighing on risk appetite.
- Weaker yuan makes dollar-priced metals more expensive for Chinese buyers.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.