Copper and tin prices tumbled on the London Metal Exchange on Tuesday, November 3, after a selloff in Asian technology shares darkened the demand outlook.
The downturn spread across industrial metals as investors questioned whether heavy spending and stretched valuations for artificial intelligence companies could be sustained, according to financial news agency Bloomberg.
Bloomberg reported that futures contracts for copper and tin fell by more than 1 percent in London trade. The drop compounded a difficult quarter for tin, which has plunged 10 percent in value during the period.
Metal prices on the London exchange
As of 04:50 Kyiv time, copper dropped 1.2 percent to $14,180 per tonne, which equals $14.18 per kilogram. Tin declined 2.2 percent to trade at $48,550 per tonne, while aluminium fell 1.1 percent to $3,060.50 per tonne.
Both copper and tin are fundamental to modern electronics and digital infrastructure. Copper provides high electrical conductivity for power cabling and cooling systems inside computer data centres, while tin is the principal element in solder used to connect semiconductors to printed circuit boards. The London Metal Exchange, where the contracts trade, operates as the world's central marketplace for industrial base metals.
Trading in Ukraine also showed the metal's domestic standing. Scrap collection facilities across the country were paying an average of 473 hryvnias per kilogram for copper on November 3, according to figures published by the industry tracker Metal Monitor. On Ukraine's commodity exchange, the price stood higher at 641.09 hryvnias per kilogram.
Recent price swings and geopolitical talks
The decline followed several days of turbulent trading for industrial commodities. Copper prices had already fallen on October 26, extending losses from the prior week as pressure intensified on technology shares linked to artificial intelligence.
The market staged a brief recovery on November 2, assisted by lower crude oil prices that helped relieve inflationary pressures. Investor confidence also received a boost as the United States and Iran indicated a willingness to continue peace negotiations, easing broader market worries that armed conflict could push up interest rates and restrict global economic growth.
