Prices for the energy-intensive metal have dropped about 40 percent since reaching a high of $3,380 a tonne in July.
A number of mining companies have been forced to cut production, reduce capital expenditure and postpone new projects as metal prices have fallen close to or below marginal costs.
United Company RUSAL said it had suspended production at the Zaporozhye Alumina and Aluminium Complex in Ukraine because current metal prices make the plant unprofitable.
Nickel closed at $11,995 a tonne in volatile trading compared with $12,100 at the close on Friday.
Tin climbed 8.2 percent to $14,500 a tonne compared with the close on Friday of $13,400.
Zinc was at $1,170 from $1,125 a tonne, while lead
On the macroeconomic front, a relatively thin week for data is set to be dominated by interest rate verdicts from both the European Central Bank and the Britain's Bank of England on Thursday.
Metal Prices at 2022 GMT Metal Last Change Pct Move End 2007 Ytd Pct
move LME Cu 4105.00 6.00 +0.15 6670.00 -38.46 SHFE Cu* 32580.00 1180.00 +3.76 56880.00 -42.72 LME Alum 2053.00 8.00 +0.39 2403.00 -14.57 SHFE Alu* 14105.00 200.00 +1.44 18180.00 -22.41 COMEX Cu** 183.70 -0.70 -0.38 303.05 -39.38 LME Zinc 1170.00 45.00 +4.00 2370.00 -50.63 SHFE Zinc* 9445.00 350.00 +3.85 18950.00 -50.16 LME Nick 11950.00 -150.00 -1.24 26350.00 -54.65 LME Lead 1512.00 13.00 -0.87 2550.00 -40.71 LME Tin 14400.00 1000.00 +7.46 16400.00 -12.20 ** 1st contract month for COMEX copper * 3rd contact month for SHFE AL, CU and ZN SHFE ZN began trading on 26/3/07 – Forbes
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