Copper Futures ($US/lb)

Copper is arguably a perfect reflection of how financial markets are feeling towards the Omicron strain:

• The industrial metal has backed off from the $US480/lb area after threatening fresh highs in late October as some economic slowdown has been built into the copper price.
• However there’s been no follow through on the downside i.e. markets are pricing the fresh wave as no more than a speedbump in the recovery road.