On the London Metal Exchange, three-month copper traded at $9,909/ton, up 0.5% at 06.25 CET. On the Shanghai Futures Exchange, copper for March delivery fell 1.6% to 71,330 yuan/ton ($11,218).
Oil prices reached a seven-year high on concerns that Russia's possible invasion of Ukraine could trigger US and European sanctions.
It is stated that investors generally buy commodities against the expectations of increasing inflationary risks.
In the LME, aluminum increased 2.5%, nickel 3.2%, lead 0.1%, zinc 0.8% and tin 1%.
Iron ore in Dalian drops sharply as China tries to cool price rally
Iron ore futures in China started the week with a sharp decline after last week's rally. It was stated that investors were concerned about the country's planning agency's warning of the recent extraordinary price movements.
Alongside the warnings, Dalian Commodity Exchange announced an increase in the transaction fee for iron ore futures contracts for February-May deliveries, in an obvious move to calm the rally.
Iron ore for May delivery in Dalian fell 8.6 percent to 761.50 yuan/t ($119.73), the lowest level since January 27.
The March contract on the Singapore Exchange fell 3.6% to $144.45/t.
Analysts stated that iron ore has entered a period that can be incredibly volatile.
On the Shanghai Futures Exchange, rebar and hot rolled coil each fell 2.3%, while stainless steel rose 2.9%.
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