Asian tech stocks came under renewed selling pressure on November 3, deepening pessimism over demand prospects for data center construction and circuit board soldering materials and dragging industrial metal prices such as copper and tin lower. Tin has slumped 10% cumulatively this quarter, making it the worst performer among the six major metals on the LME. Copper prices briefly rose on Monday, partly supported by a pullback in oil prices, as both the US and Iran signaled progress toward peace negotiations, easing market concerns that the war could weigh on interest rates and global economic growth. Analysts said the macroeconomic environment still poses significant pressure on the metals market, especially given the possibility that the conflict could flare up again after the US midterm elections.
