Copper prices fell to their lowest in more than three months on Monday, hurt by demand worries amid a lack of fresh stimulus measures in top consumer China.

Three-month copper on the London Metal Exchange eased 0.4% to $9,273.50 per metric ton by 0618 GMT.

The contract hit as low as $9,264.50 earlier in the session, the lowest since April 8.

The most-traded September copper contract on the Shanghai Futures Exchange fell 1.3% to 75,920 yuan ($10,438.61) a ton, after also hitting its lowest since April 8 earlier.

A key political meeting in China last week did not provide details on stimulus measures despite a struggling economy, which weighed on prospects of metals demand.

The recent price fall has boosted some physical buying in China, but purchases were not too strong as people still expect SHFE prices to fall to 75,000 yuan or even lower, said He Tianyu of research and consultancy firm CRU Group.

Meanwhile, copper inventories in LME warehouses hit their highest since September 2021, while bonded warehouse stockpiles in China climbed to their highest since May 2023.

SHFE stocks dipped recently, but remained relatively high.

Chinese refined copper exports in June jumped about seven times compared to last year.

Copper extends downturn to three-month low on China gloom

The premium to import copper into China rose to $9 a ton on Friday, the highest since April 15 and signifying improving demand, although it is low compared to historical standards.

LME aluminium eased 0.5% to $2,340 a ton, lead fell 0.4% to $2,119, zinc rose 0.2% to $2,786.50, tin shed 1% at $30,740 and nickel was nearly flat at $16,250.

SHFE aluminium dipped 0.6% to 19,490 yuan a ton, nickel dropped 1.5% to 128,870 yuan, lead fell 1.2% to 19,220 yuan, tin shed 2.9% to 254,130 yuan and zinc eased 0.1% to 23,450 yuan.