LME base metal futures mixed, nickel declines 1.5%

Base metals futures on the London Metal Exchange were mixed at the 9am open on Thursday December 9, with macro forces such as the Omicron variant of COVID-19 continuing to cause price volatility.

“There are a lot of cross winds buffeting the market, including monetary policy, the spread and uncertainty of Omicron, shipping delays, strong economic activity and some potential major geopolitical situations. Given all this, we expect prices to remain in their ranges,” Fastmarkets head of base metals and battery research William Adams said. “Overall, the LME base metals seem to be consolidating after Wednesday’s strong gains,” Adams added. “It looks as if high volatility on thin volumes will be with us until the end of the month,” Kingdom Futures director Malcolm Freeman...

Published

Callum Perry

December 09, 2021

10:06 GMT

London