Mining News

Copper falls on new coronavirus variant jitters

London copper prices fell on Friday as a newly identified Covid-19 variant in South Africa and expectations of faster-than-expected US rate hikes fuelled concerns of an economic slowdown.

Three-month copper on the London Metal Exchange dipped 0.6% to $9 741 a tonne by 02:50 GMT. The most-traded January copper contract on the Shanghai Futures Exchange fell 1.2% to 71 050 yuan ($11,115.63) a tonne.

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