The dollar firmed on Monday, while the yen and Swiss franc weakened, reversing some of Friday’s moves, as fears about the new coronavirus variant receded, with governments around the world seeking further information about the most recent mutation and its impact.
Shanghai nonferrous metals closed with mixed performance, as the market is recovering from the broad declines last Friday, triggered by the discovery of super COVID variant Omicron.
SHFE and LME metals fell across the board last Friday due to the COVID-19 pandemic outbreak in Africa, while the lead closed with gains.
The steel mills lowered their guide prices early last week, depressing the spot market and growing market pessimism.
According to SMM survey, the important inland port of copper concentrate in north China Erlianhot has decided to suspend imports and reception of non-container cargoes from 2:00 pm November 28 in order to strengthen its pandemic prevention and control and effectively block the spread of overseas pandemic through imported goods. Cargo loading and unloading operations were suspended.
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