Copper prices continued recent declines, reaching a three-month low as negative sentiment towards China, the largest importer, persists.
Benchmark copper futures on the London Metal Exchange fell 0.9% to $8,940.50 a tonne, while December copper futures fell 0.8% to $4.3060 a pound, with both contracts hitting their weakest levels since August.
China’s latest round of fiscal measures have disappointed traders who were hoping for more targeted measures to support private spending and the real estate market. The prospect of higher trade tariffs under Trump also weighed on China’s expectations.
Beijing is expected to outline further stimulus measures during two key political meetings in December.
This week, all eyes will be on China’s industrial production and retail sales data, due on Friday, for further signals about the economy.
