AGL 38.83 Decreased By ▼ -0.06 (-0.15%)
AIRLINK 143.40 Decreased By ▼ -2.00 (-1.38%)
BOP 5.24 Increased By ▲ 0.04 (0.77%)
CNERGY 3.72 Decreased By ▼ -0.06 (-1.59%)
DCL 7.58 Decreased By ▼ -0.09 (-1.17%)
DFML 46.40 Increased By ▲ 1.22 (2.7%)
DGKC 80.88 Increased By ▲ 1.75 (2.21%)
FCCL 27.42 Decreased By ▼ -0.58 (-2.07%)
FFBL 55.00 Increased By ▲ 1.67 (3.13%)
FFL 8.56 Decreased By ▼ -0.09 (-1.04%)
HUBC 111.02 Decreased By ▼ -10.80 (-8.87%)
HUMNL 11.42 Increased By ▲ 0.46 (4.2%)
KEL 3.77 Increased By ▲ 0.02 (0.53%)
KOSM 8.33 Increased By ▲ 0.01 (0.12%)
MLCF 35.20 Increased By ▲ 0.44 (1.27%)
NBP 61.35 Increased By ▲ 2.10 (3.54%)
OGDC 171.90 Increased By ▲ 2.68 (1.58%)
PAEL 25.78 Increased By ▲ 0.18 (0.7%)
PIBTL 5.97 Decreased By ▼ -0.02 (-0.33%)
PPL 127.55 Increased By ▲ 0.05 (0.04%)
PRL 25.58 Increased By ▲ 0.70 (2.81%)
PTC 12.15 Increased By ▲ 0.21 (1.76%)
SEARL 57.00 Increased By ▲ 1.47 (2.65%)
TELE 7.10 Increased By ▲ 0.03 (0.42%)
TOMCL 34.80 Decreased By ▼ -0.35 (-1%)
TPLP 6.95 Decreased By ▼ -0.05 (-0.71%)
TREET 13.85 Decreased By ▼ -0.04 (-0.29%)
TRG 47.05 Increased By ▲ 1.23 (2.68%)
UNITY 26.05 Decreased By ▼ -0.14 (-0.53%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,094 Increased By 113.3 (1.26%)
BR30 27,318 Decreased By -101.9 (-0.37%)
KSE100 85,664 Increased By 753.7 (0.89%)
KSE30 27,441 Increased By 243.7 (0.9%)
Markets

Copper trades flat in thin holiday trade

  • Three-month copper on the London Metal Exchange was almost flat at $10,007 a tonne.
  • Workers at BHP Group's Spence copper mine in top producer Chile said last week they had reached a new contract deal with the company, avoiding a strike.
Published June 14, 2021

HANOI: Copper was unchanged on Monday in tepid trade due to a holiday in top consumer China, while worries eased over supply disruption after a strike in Chile was avoided.

Three-month copper on the London Metal Exchange was almost flat at $10,007 a tonne by 0305 GMT. Aluminium rose 0.4% to $2,474 a tonne and nickel increased 0.4% to $18,295 a tonne and tin climbed 0.9% to $31,850 a tonne.

The Shanghai Futures Exchange is closed for a holiday.

Workers at BHP Group's Spence copper mine in top producer Chile said last week they had reached a new contract deal with the company, avoiding a strike.

FUNDAMENTALS

China plans to release state reserves of nonferrous metals copper, aluminium and zinc in a programme set to last until the end of 2021, data provider Shanghai Metal Exchange Market and Chinese analysts said.

Yangshan copper premium fell to $22 a tonne, its lowest since 2016, indicating weak demand for imported metal into China.

Copper inventories in warehouses tracked by ShFE fell for the fourth straight week on Friday to 180,967 tonnes, the lowest level since March 12.

ShFE tin stockpiles fell to their lowest since November 2020 at 4,563 tonnes, while lead inventories in ShFE warehouses leaped to 118,885 tonnes, their highest since June 2013.

ShFE nickel inventories dropped to a record low of 7,471 tonnes.

MARKETS NEWS

The US dollar held steady against major currencies on Monday, after posting its biggest weekly gain in more than a month, as traders closed short positions ahead of the Federal Reserve policy meeting this week.

Comments

Comments are closed.