Base metals prices holding up, but still heading sideways

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part firmer on the morning of Monday December 13, the exception was the February nickel contract on the SHFE that was down by 0.2%.

Markets seem to be taking the spread of the Omicron variant of the coronavirus in their stride for now and the expected move toward tighter monetary policy is being seen as a signal that economies are strong enough to take it.

 

Germany’s wholesale price index climbed by 1.3% month on month in November, down from a 1.6% rise in October. Equities were generally positive despite China’s property developers’ woes. Base metals Three-month prices on the LME were up across the board by an average of 0.8% this morning. Lead ($2,300 per...

Published

William Adams

December 13, 2021

09:18 GMT

London