AGL 22.90 Decreased By ▼ -1.83 (-7.4%)
AIRLINK 103.99 Decreased By ▼ -7.11 (-6.4%)
BOP 5.36 Decreased By ▼ -0.18 (-3.25%)
CNERGY 3.86 Decreased By ▼ -0.04 (-1.03%)
DCL 8.02 Decreased By ▼ -0.43 (-5.09%)
DFML 39.10 Decreased By ▼ -3.15 (-7.46%)
DGKC 86.95 Decreased By ▼ -2.65 (-2.96%)
FCCL 22.70 Decreased By ▼ -0.20 (-0.87%)
FFBL 40.59 Decreased By ▼ -1.39 (-3.31%)
FFL 8.89 Decreased By ▼ -0.15 (-1.66%)
HUBC 153.50 Decreased By ▼ -8.70 (-5.36%)
HUMNL 10.65 Decreased By ▼ -0.70 (-6.17%)
KEL 4.55 Decreased By ▼ -0.23 (-4.81%)
KOSM 3.90 Decreased By ▼ -0.16 (-3.94%)
MLCF 37.50 Decreased By ▼ -1.45 (-3.72%)
NBP 49.00 Decreased By ▼ -1.60 (-3.16%)
OGDC 134.15 Decreased By ▼ -2.96 (-2.16%)
PAEL 26.15 Decreased By ▼ -2.40 (-8.41%)
PIBTL 6.07 Decreased By ▼ -0.18 (-2.88%)
PPL 116.79 Decreased By ▼ -6.01 (-4.89%)
PRL 23.55 Decreased By ▼ -0.75 (-3.09%)
PTC 12.90 Decreased By ▼ -0.84 (-6.11%)
SEARL 57.25 Decreased By ▼ -2.80 (-4.66%)
TELE 7.45 Decreased By ▼ -0.31 (-3.99%)
TOMCL 35.74 Decreased By ▼ -3.66 (-9.29%)
TPLP 8.50 Decreased By ▼ -0.26 (-2.97%)
TREET 15.68 Decreased By ▼ -0.52 (-3.21%)
TRG 56.40 Decreased By ▼ -3.60 (-6%)
UNITY 33.40 Decreased By ▼ -1.00 (-2.91%)
WTL 1.18 Decreased By ▼ -0.04 (-3.28%)
BR100 8,433 Decreased By -274.3 (-3.15%)
BR30 26,639 Decreased By -1159 (-4.17%)
KSE100 80,118 Decreased By -1722 (-2.1%)
KSE30 25,681 Decreased By -584.1 (-2.22%)
Markets

Shanghai base metals fall as virus cases rise in China

  • The total number of new COVID-19 cases stood at 103, the highest since 127 cases were reported on July 30.
Published January 11, 2021

HANOI: Shanghai prices of industrial metals fell on Monday as top metal consumer China saw its biggest daily increase in COVID-19 cases in more than five months.

The most-traded February contract on the Shanghai Futures Exchange fell 3% to 14,585 yuan ($2,250.25) a tonne at 0151 GMT.

The February zinc contract declined 2.5% to 21,090 yuan a tonne, while the March nickel contract was down 2% to 130,210 yuan a tonne. Both metals are used in steelmaking.

China's Hebei province, a major hub for making steel and lead-acid batteries, accounted for 82 of the 85 new local infections reported on Jan. 10, the National Health Commission (NHC) said in a statement.

The total number of new COVID-19 cases stood at 103, the highest since 127 cases were reported on July 30.

FUNDAMENTAL

Three-month copper on the London Metal Exchange fell 1.1% to $8,044.50 a tonne, and ShFE copper declined 1% to 59,450 yuan a tonne. LME lead was down 1.1% to $1,980 a tonne.

Zinc inventories in ShFE warehouses on Friday rose 22.5% from Dec. 31, 2020, to 35,008 tonnes, and lead stockpiles increased 11.5% to 51,157 tonnes, exchange data showed.

Comments

Comments are closed.