Copper, Tin Fall as AI Stock Selloff Weighs
Industrial metals slid on the London Metal Exchange as a renewed technology stock selloff in Asia dampened demand expectations for data center and circuit board materials.
Updated on Nov. 3, 2026 in Stock Markets
Copper and tin contracts on the London Metal Exchange dropped more than 1% as a renewed selloff in Asian technology stocks weakened the demand outlook for industrial metals. Other base metals also fell in the session.
Why it matters
Concerns about spending and stretched valuations at artificial intelligence companies are feeding into expectations for materials used in data centers and circuit boards. Tin's sharp quarterly slide shows how sensitive these metals have become to the technology sector.
Copper fell 1.2% to US$14,180 a tonne and tin fell 2.2% to US$48,550 a tonne in Shanghai trading, with aluminium down 1.1% to US$3,060.50 a tonne. Tin has dropped 10% this quarter, the worst performance among the LME's six major metals, but the duration of the selloff remains unclear.
The details
Copper and tin fell alongside other industrial metals after a renewed selloff in Asian technology stocks. Both contracts dropped more than 1% on the London Metal Exchange as investors weighed spending and valuation concerns at artificial intelligence companies.
Timeline
Copper rose on Monday, helped by a pullback in oil prices before the decline later in the period.
Tin has plunged 10% this quarter, the worst performance among the LME's six major metals.
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Market Dynamics
The metals decline follows the broader pattern of AI-linked valuation concerns spreading from technology equities into the commodities that feed data center and chip supply chains. Tin's 10% quarterly drop illustrates how this sensitivity has pushed it to the bottom of the LME's major metals this quarter.
Investors with exposure to base metals or technology stocks may see continued volatility if concerns over AI spending persist. Holders of commodity-linked funds should watch how copper and tin prices respond to the technology sector's next moves.
The takeaway
Copper and tin are reacting quickly to shifts in AI stock sentiment, so readers tracking metals or tech exposure should monitor both markets together. Diversification across sectors can help limit the impact of a single theme's selloff.
Further reading
Track broader market moves in the Stock Markets section.
