ANL 11.28 Increased By ▲ 1.00 (9.73%)
ASC 9.50 Increased By ▲ 0.41 (4.51%)
ASL 11.24 Increased By ▲ 0.25 (2.27%)
AVN 78.01 Increased By ▲ 0.41 (0.53%)
BOP 5.51 Increased By ▲ 0.11 (2.04%)
CNERGY 5.41 Increased By ▲ 0.08 (1.5%)
FFL 6.76 Increased By ▲ 0.16 (2.42%)
FNEL 5.91 Increased By ▲ 0.06 (1.03%)
GGGL 11.30 Increased By ▲ 0.21 (1.89%)
GGL 16.78 Increased By ▲ 0.25 (1.51%)
GTECH 8.99 Increased By ▲ 0.58 (6.9%)
HUMNL 7.20 Increased By ▲ 0.06 (0.84%)
KEL 2.96 Decreased By ▼ -0.04 (-1.33%)
KOSM 3.46 Increased By ▲ 0.25 (7.79%)
MLCF 27.15 Increased By ▲ 0.15 (0.56%)
PACE 3.10 Increased By ▲ 0.10 (3.33%)
PIBTL 6.11 Increased By ▲ 0.17 (2.86%)
PRL 18.06 Increased By ▲ 0.16 (0.89%)
PTC 7.08 Increased By ▲ 0.11 (1.58%)
SILK 1.19 Increased By ▲ 0.02 (1.71%)
SNGP 34.75 Increased By ▲ 0.47 (1.37%)
TELE 10.94 Increased By ▲ 0.13 (1.2%)
TPL 9.40 Increased By ▲ 0.32 (3.52%)
TPLP 20.49 Increased By ▲ 0.34 (1.69%)
TREET 29.40 Increased By ▲ 0.25 (0.86%)
TRG 77.50 Increased By ▲ 0.39 (0.51%)
UNITY 20.36 Increased By ▲ 0.31 (1.55%)
WAVES 12.80 No Change ▼ 0.00 (0%)
WTL 1.37 Increased By ▲ 0.04 (3.01%)
YOUW 5.51 Increased By ▲ 0.52 (10.42%)
BR100 4,137 Increased By 36.3 (0.88%)
BR30 15,237 Increased By 211.2 (1.41%)
KSE100 41,734 Increased By 192.7 (0.46%)
KSE30 15,891 Increased By 85.6 (0.54%)
Markets

Copper rises as stimulus hope fuels risk sentiment

  • LME aluminium increased 0.9% to $1,998.50 a tonne.
  • Nickel climbed 0.9% to $18,385 a tonne.
21 Jan, 2021

HANOI: Copper prices advanced on Thursday as risk sentiment surged on hopes that U.S. President Joe Biden would introduce more economic stimulus into the world's biggest economy to remedy damage wrought by the coronavirus pandemic.

Three-month copper on the London Metal Exchange rose 0.4% to $8,077.50 a tonne by 0310 GMT, while the most-traded March copper contract on the Shanghai Futures Exchange advanced 0.5% to 59,410 yuan ($9,195.46) a tonne.

U.S. stocks closed at record highs on Wednesday amid expectations that Biden would deploy further economic stimulus to offset damage caused by the COVID-19 pandemic.

A weaker U.S. dollar, pressured by the stimulus optimism, also made greenback-priced metals on the LME more appealing to holders of other currencies.

LME aluminium increased 0.9% to $1,998.50 a tonne, nickel climbed 0.9% to $18,385 a tonne, while ShFE aluminium rose 1.9% to 15,010 yuan a tonne and zinc leaped 1.2% to 20,585 yuan a tonne.

However, keeping metals prices in check is top consumer China's increasing new COVID-19 cases despite a flurry of recent measures to contain the outbreak in the northeast.

Comments

Comments are closed.