Copper metal prices fell on Friday, November 26) due to concerns about the new corona virus variant affecting global economic growth and consumption demand.

Copper metal for three-month delivery on the LME fell 3.6% to $9,465 a tonne.
The price movement of copper is often seen as an indicator reflecting the world economic situation because it is one of the basic industrial metals commonly used in a variety of fields such as construction, electronics, etc. second week drop.
The dollar rose while world stocks and oil prices fell as European and Asian countries tightened travel restrictions following news of the new variant.
Amelia Fu, Head of Commodity Market Strategy at Bank of China International, said: “Supply has not fully recovered and therefore prices are likely to remain high even if economic growth slows.
Copper inventories at LME-managed warehouses increased to 64,450 tonnes from 14,150 tonnes on October 14.
At warehouses overseen by the Shanghai Futures Exchange, copper stocks rose 19.9% ​​to 41,862 tonnes, according to weekly data.

Other metals: Aluminum fell 4.2% to $2,601 a tonne, zinc fell 3.1% to $3,197, lead fell 0.4% to $2,261, tin fell 0.5% to $38,600 while nickel down 3.7% to $19,895/ton.

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