Base metals mixed

Base metals prices were mixed on Monday after declines last week.

December copper added 2 cents to $3.16 per pound in New York on the session, while it added 0.9 percent to $7,025 per tonne in London.

The gains came as analysts said that last week’s move by the US federal reserve to cut its discount rate had reintroduced some stability into the market, reducing the chances that the economy will slow and demand for industrial metals will decline.

In addition, a strike at a Mexican mine continued as workers ask for higher wages based on recent gains in prices.

Tin and lead were also higher in London, up 5.2 percent to $14,050 per tonne and 1.2 percent to $2,920 per tonne respectively.

Aluminium, however, was down 0.7 percent to $2,478 per tonne, while nickel dropped 0.9 percent to $26,025 per tonne.