Core Insights - The London Metal Exchange (LME) copper prices declined due to concerns over demand outlook, with three-month copper dropping by $242, or 2.24%, to $10,578 per ton on October 14 [1][2]. Price Movements - Three-month copper: $10,578.00, down $242.00, or -2.24% [2] - Three-month aluminum: $2,737.50, down $25.50, or -0.92% [2] - Three-month zinc: $2,941.50, down $79.50, or -2.63% [2] - Three-month lead: $1,982.00, down $7.00, or -0.35% [2] - Three-month nickel: $15,135.00, down $71.00, or -0.47% [2] - Three-month tin: $35,189.00, down $537.00, or -1.50% [2] Market Analysis - Copper prices have fallen nearly 4% since October 9, when they reached a 16-month high of $11,000 due to supply concerns from Indonesia, the Democratic Republic of Congo, and Chile [4]. - Dan Smith, Managing Director of Commodity Market Analytics, noted that despite supply challenges, copper demand remains weak [4]. - The recent support level for copper is at the 21-day moving average, currently at $10,378 per ton [4]. Spot and Futures Contracts - The spot copper contract is currently at a premium of $39 per ton over the three-month contract, having peaked at $227 per ton, the highest since June [5]. - Zinc's premium decreased from $202 per ton to $115 per ton, with LME zinc inventories at their lowest since the beginning of 2023, raising supply concerns [5]. Additional Price Trends - LME three-month zinc reached its lowest price since September 30 [6][7]. - LME three-month lead and nickel also hit their lowest prices since early September [6][8][9].