Prices drop by 2% and more across LME on new variant fears

The emergence of a new variant of Covid-19 in South Africa has stirred bearishness across markets on the morning of November 26, taking down all London Metal Exchange futures prices.

"South Africa’s Rand fell to the lowest in a year while researchers were working around the clock to learn more about the B.1.1529 variant. The strain is said to carry a higher number of mutations in its spike protein, which might make it easier for the virus to enter into body cells," LME Desk analyst Anna Stablum said on Friday morning. Nickel's three-month price was the most affected, having dropped...

Published

Ana de Liz

November 26, 2021

10:49 GMT

London