Copper hits two-week low

LONDON, Oct 8 (Reuters): Copper prices fell on Tuesday to their lowest in two weeks, after top metal consumer China failed to convince investors on how its stimulus would get the economy back on track.

Three-month copper on the London Metal Exchange fell earlier to $9,700 per metric ton, the lowest level since Sept. 24. It last traded 1.8 per cent lower at $9,745 a ton as at 1026 GMT.

"There had been overshoot in copper prices as the market priced in Chinese stimulus package as a game-changer but it now looks hesitant," a trader said.

Copper prices hit four-month high last week, after China announced its biggest stimulus package since the pandemic. Analysts had anticipated bold moves on lifting the heavily-indebted property sector that weighed on consumer confidence.

But a briefing on Tuesday provided little details on the stimulus other than a repeat of China's "full confidence" in achieving its full-year growth target.