Aluminium down to $2,600/t in LME sell-off on new Covid-19 variant fears

An intense sell-off hit London Metal Exchange base metals prices and other risk assets on Friday November 26, with fears over a new Covid-19 variant in Southern Africa dampening a previously bullish week.

Aluminium was the worst affected of the base metals, with its three-month price losing 3.8% by the 5pm close to $2,615 per tonne. This represents a drop of more than $100 from its close on Thursday at $2,717.50 per tonne.

More than 18,500 lots of aluminium had been traded by 5pm, the largest volume for the metal since November 5, when the metal also fell by 3.8%.

Three-month nickel closed at $19,897 per tonne, down...

Published

Ana de Liz

November 26, 2021

17:56 GMT

London