By BUUMBA CHIMBULUDWINDLING copper, zinc and nickel stocks could shield prices from the impact of the new Covid-19 variant called Omicron, according to a new report from Capital Economics.This is after copper, zinc and nickel prices bounced back from Friday’s omicron-induced drubbing on Monday as worries about global stocks return.A new report from Capital Economics reaffirms the independent researcher’s recent argument that metal prices would weaken markedly going into 2022 as China’s economy slows.The report however indicated that it was too soon to tell whether the new variant would add further pressure.“Moreover, while a new set of virus-related government restrictions would dampen demand, Capital Economics points out that supply could also be disrupted and any negative impact on prices “may be tempered” particularly at a time when stocks are at historically low levels,” the report stated.The copper price rose on Monday, recouping some of last week’s losses fueled by the newly identified coronavirus variant, with […]
Falling metal stocks could shield prices from omicron impact – report
