CAPITAL MARKETS

LME metals trade up

Nickel plateaus after big week

Staff reporter
LME metals trade up

Copper was up 0.28% by just after 9am UK time to US$9,746.5/tonne, while aluminium gained 0.72% to $2,998/t - a level not seen since October. Zinc climbed 0.27% to $3,530/t.

After a strong run last week, nickel cooled a fraction in early trading on Monday, down 0.04% to $22,185/t.

Macro-wise, the UK and Europe opened higher, with Asian markets mostly up overnight despite China property developers weighing on the Hang Seng index.

Friction between the US and China over critical minerals continues to unfold, with a bipartisan piece of legislation introduced to the US Senate on Friday that would prevent defence contractors buying rare earths from China by 2036. The move - by extension - is intended to stimulate US rare earths production.

Gold continues to hover just above US$1,800/oz, trading at $1,821/oz just before 10am UK time.

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