Copper, aluminium, nickel up on LME after drops on Friday and Covid variant concerns

Base metals prices on the London Metal Exchange were mixed but largely stronger during morning trading on Monday November 29, with copper, aluminium and nickel all trading up after prices dropped on Friday amid growing concerns over the new coronavirus variant Omicron.

"The dip/bargain-buying returned this morning [Monday] after Friday’s knee-jerk reaction lower. Markets are likely to remain nervous while the world learns more about the Omicron variant of the Covid-19 virus," head of base metals and battery research at Fastmarkets Will Adams said. The three-month copper price was up by 1.1% to $9,564.50 per tonne on Monday morning, from $9,460 per tonne at Friday's 5pm close. "Copper bounced on Monday after falling as...

Published

Imogen Dudman

November 29, 2021

10:47 GMT

London