Copper tumbles off high, 'volatility to remain'
Look beyond market approach to project valuations: van Zyl
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It closed at $10,487.50/t, returning towards the price for three-month copper, which was down 0.46% to $10,149.50/t.
"We expect volatility to remain in the near term given such market uncertainty - think low stocks, uncertain delivery times thanks to shipping and other logistical issues," Marex's Al Munro said from the LME desk.
Look beyond market approach to project valuations: van Zyl
Leadership
3 things that help keep capital projects on track
SPONSOREDproudfoot
Azure eyes province potential ahead of Andover resource
SPONSOREDazure minerals
American Pacific building US copper position
SPONSOREDamerican pacific mining
Nickel has climbed further above $20,000 per tonne, with cash nickel up 0.45% to $20,130.50/t, as Vale had to halt its Onca Puma operation in Brazil for the second time this month amid a battle over its operating licence.
Gold is up slightly to $1,773 an ounce on the spot market.
Precious metals producer Fresnillo rose 2.85% in London while Glencore fell by a similar amount.
The S&P 500 closed up 0.75% to 4,519.63 and is within a whisker of last month's all-time high.
Finally, Volcanic Gold Mines (TSXV: VG) erupted in Toronto, rising 56.5% to C54c - on news of drilling 4.58m at 79.84g/t gold and 5,053g/t silver at the Holly project in Guatemala, where it can earn 60% under a 2020 deal with Radius Gold.