Base metals prices mixed; Omicron, potential for central bank tightening keep markets in check

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed on the morning of Tuesday December 14, because there are many health, monetary policy and geopolitical loose ends for traders to contend with ahead of year-end.

China reports its first case of the Omicron-variant of Covid-19. Asia-Pacific equities weaker while they follow the weakness in western markets on Monday. Base metals Three-month prices on the LME were split with copper, aluminium and nickel showing losses averaging 0.5%, while lead, zinc and tin were up by an average of 0.2%. Copper was down by 0.2% at $9,450 per tonne. The most-traded base metals contracts on the SHFE were also mixed with February nickel and January copper down by 1.6% and 0.7% respectively, with the latter at 68,950 yuan ($10,829)...


William Adams

December 14, 2021

09:38 GMT