Over the past two weeks, prices for two key base metals, copper and iron ore, have remained in a sideways trend due to significant pressure from weak demand in China. Copper prices have been fluctuating within a narrow range around $9,600 per ton, while iron ore prices have been hovering between $103 and $104 per ton.

Commenting on the situation, Mr. Trần Ngọc Quang, Deputy Director of SFVN Investment JSC, stated that this is a necessary correction phase following a period of sharp price increases. He noted that prices are unlikely to decline significantly, as investors might increase their holdings of precious metals as a risk-hedging tool with the U.S. elections approaching.

Conversely, Mr. Quang highlighted that base metal prices could continue to decrease in the short term, as weak consumption demand remains the most critical factor influencing price trends.

Source: VTV1