Copper and tin declined on the London Metal Exchange Tuesday as a renewed selloff in Asian technology stocks weakened demand outlook for data center and circuit board materials. Tin dropped over 10% this quarter, its worst performance among LME's six major metals. Copper had earlier risen on Monday following an oil price pullback that may ease inflation pressures, while the US and Iran signaled willingness to pursue peace talks, easing war-related growth anxiety.
Still, macro conditions weigh heavily on metals, particularly with the possibility conflict could resume after US midterms, said Cofco Futures analyst Xu Wanqiu. Copper fell 1.2% to $14,180 a ton as of 10:50 a.m. in Shanghai, while tin declined 2.2% to $48,550 a ton. Aluminum dropped 1.1% to $3,060.50 a ton.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing