Copper ended lower on Monday as investors reduced risk amid concerns over metals demand and global recovery prospects after the release of financial aid to Greece was delayed. In New York, the key September COMEX contract settled 2.85 cents lower at $4.0925 per lb.
Despite the negative tone, prices in London and New York stand just 12 percent away from record highs hit in February of this year of $10,190 per tonne and $4.63 per lb. Nickel hit a session low of $21,337 a tonne, its cheapest since November last year, before ending the day with a loss of $25 at $21,650 a tonne. It is down by about 27 percent from the year's highs reached in February.