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Ningbo Jintian Copper (Group) Co., Ltd.
Ningbo Jintian Copper (Group) Co., Ltd.

Copper Falls On Worries About Omicron And Global Demand

Copper prices fell on Monday, amid concerns about weak global demand for commodities and metals due to the Omicron variant.

Several European countries, such as the UK, started to see record daily spike in Covid-19 infections due to the Omicron outbreak, which threatens another lockdown and closures.

Countries such as Denmark, Norway and Austria have also tightened restrictions on citizens, especially on the unvaccinated.

The American biotech frim Moderna reported that a booster shot of its vaccine protect from Omicron infection.

The dollar index fell against a basket of major currencies by 0.2% to 96.3 points as of 14:41 GMT, after hitting a high of 96.6 points and a low of 96.3 points.

Copper March futures fell 0.2% to $4.28 per pound as of 14:36 GMT.