ANL 13.55 Decreased By ▼ -0.79 (-5.51%)
ASC 13.32 Decreased By ▼ -0.63 (-4.52%)
ASL 14.02 Decreased By ▼ -1.08 (-7.15%)
BOP 8.36 Decreased By ▼ -0.16 (-1.88%)
BYCO 6.14 Decreased By ▼ -0.40 (-6.12%)
FCCL 17.61 Decreased By ▼ -1.19 (-6.33%)
FFBL 24.90 Decreased By ▼ -1.95 (-7.26%)
FFL 10.25 Decreased By ▼ -0.75 (-6.82%)
FNEL 9.80 Decreased By ▼ -0.71 (-6.76%)
GGGL 15.30 Decreased By ▼ -0.95 (-5.85%)
GGL 29.50 Decreased By ▼ -2.00 (-6.35%)
HUMNL 5.90 Decreased By ▼ -0.34 (-5.45%)
JSCL 16.00 Decreased By ▼ -0.89 (-5.27%)
KAPCO 32.05 Decreased By ▼ -1.05 (-3.17%)
KEL 3.17 Decreased By ▼ -0.10 (-3.06%)
MDTL 2.21 Decreased By ▼ -0.06 (-2.64%)
MLCF 34.39 Decreased By ▼ -2.71 (-7.3%)
NETSOL 95.50 Decreased By ▼ -7.30 (-7.1%)
PACE 4.25 Decreased By ▼ -0.43 (-9.19%)
PAEL 21.43 Decreased By ▼ -1.72 (-7.43%)
PIBTL 7.60 Decreased By ▼ -0.26 (-3.31%)
POWER 6.60 Decreased By ▼ -0.45 (-6.38%)
PRL 12.69 Decreased By ▼ -0.97 (-7.1%)
PTC 8.75 Decreased By ▼ -0.15 (-1.69%)
SILK 1.25 Decreased By ▼ -0.06 (-4.58%)
SNGP 38.68 Decreased By ▼ -3.02 (-7.24%)
TELE 15.88 Decreased By ▼ -1.11 (-6.53%)
TRG 81.73 Decreased By ▼ -6.02 (-6.86%)
UNITY 23.70 Decreased By ▼ -1.65 (-6.51%)
WTL 2.05 Decreased By ▼ -0.15 (-6.82%)
BR100 4,439 Decreased By ▼ -231.81 (-4.96%)
BR30 17,575 Decreased By ▼ -1259.71 (-6.69%)
KSE100 43,453 Decreased By ▼ -1916.46 (-4.22%)
KSE30 16,770 Decreased By ▼ -805.65 (-4.58%)

Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,745
824hr
Pakistan Cases
1,285,631
37724hr
0.85% positivity
Sindh
476,017
Punjab
443,240
Balochistan
33,488
Islamabad
107,765
KPK
180,146
Markets

Copper slips further below $8,000 as rally runs out of gas

  • Metals were also under pressure as the greenback climbed against major peers amid tightening COVID-19 lockdowns globally.
21 Dec 2020

HANOI: London copper slipped on Monday, moving further away from a key $8,000 psychological level hit in the last session as a seven-week rally ran out of steam and the dollar firmed on safe-haven demand.

Three-month copper on the London Metal Exchange fell 0.6% to $7,938 a tonne by 0300 GMT. It has climbed 81.6% from March lows and added 28.5% so far this year, making it the best performing base metal on the LME.

The most-traded February copper contract on the Shanghai Futures Exchange declined 0.1% to 59,080 yuan ($9,019.02) a tonne, slipping from its highest since September 2011 of 59,640 yuan hit in the overnight session.

Metals were also under pressure as the greenback climbed against major peers amid tightening COVID-19 lockdowns globally.

A firmer dollar makes greenback-priced LME metals more expensive and therefore less appealing to potential buyers holding other currencies.

But losses in metals were capped by news that the United States was inching closer to a stimulus bill to support the world's largest economy.

We love hearing your feedback, please help us improve by answering these few survey questions

Comments

Comments are closed.