Copper dips as China's rising COVID-19 cases spook demand outlook
- Three-month copper on the London Metal Exchange fell 0.4% to $7,993 a tonne by 0229 GMT, while the most-traded March copper contract on the Shanghai Futures Exchange declined 0.4% to 58,920 yuan ($9,113.55) a tonne.
HANOI: Copper prices fell on Friday on worries that demand from top consumer China will be dampened due to the country's rising coronavirus cases that could trigger further restrictions.
Three-month copper on the London Metal Exchange fell 0.4% to $7,993 a tonne by 0229 GMT, while the most-traded March copper contract on the Shanghai Futures Exchange declined 0.4% to 58,920 yuan ($9,113.55) a tonne.
LME aluminium fell 0.3% to $1,991 a tonne and nickel was down 0.5% at $18,295 a tonne. ShFE aluminium declined 0.3% to 14,845 yuan a tonne and zinc dropped 1% to 20,300 yuan a tonne.
China has been dealing with its biggest coronavirus outbreak since March 2020, with capital Beijing launching mass testing in parts of the city and Shanghai testing all hospital staff.