NGLOY - Copper industrial metals routed on fears over new COVID variant

Prices are plunging for copper and other industrial metals on worries over fears that a new and potentially highly contagious coronavirus variant from South Africa could derail global economic growth. December Comex copper (HG1:COM) -3.2% to $4.315/lb., while aluminum (LMAHDS03:COM) and zinc (LMZSDS03:COM) both sink more than 3% on the London Metal Exchange. ETFs: COPX, CPER, JJCTF, JJC, JJU, SLX Producers of copper and other industrial metals are poised for big opening losses: FCX -5.4%, AA -5.2%, TECK -4.9%, CENX -4.4%, SCCO -3.8%. The big three diversified global miners are deep in the red: RIO -3.8%, VALE -3.6%, BHP -2.8%. Steel names also are indicated sharply lower: CLF -5.3%, X -4.9%, MT -4.9%, NUE -4.5%, STLD -3.5%. Other notable tickers include OTCQX:AAUKF, OTCQX:NGLOY, OTCPK:GLCNF, OTCPK:GLNCY, OTCQX:FSUMF Meanwhile, gold prices are popping and precious metals miners offer a safe-haven refuge.

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Copper, industrial metals routed on fears over new COVID variant