AVN 65.45 Increased By ▲ 0.50 (0.77%)
BAFL 30.65 Decreased By ▼ -0.86 (-2.73%)
BOP 4.83 Increased By ▲ 0.04 (0.84%)
CNERGY 3.72 Decreased By ▼ -0.12 (-3.13%)
DFML 14.26 Decreased By ▼ -0.15 (-1.04%)
DGKC 41.06 Decreased By ▼ -0.54 (-1.3%)
EPCL 46.56 Decreased By ▼ -0.14 (-0.3%)
FCCL 11.35 Increased By ▲ 0.06 (0.53%)
FFL 5.03 Decreased By ▼ -0.02 (-0.4%)
FLYNG 5.78 Decreased By ▼ -0.04 (-0.69%)
GGL 10.28 Decreased By ▼ -0.17 (-1.63%)
HUBC 67.03 Increased By ▲ 1.39 (2.12%)
HUMNL 5.68 Increased By ▲ 0.02 (0.35%)
KAPCO 27.85 Increased By ▲ 0.10 (0.36%)
KEL 2.19 Increased By ▲ 0.04 (1.86%)
LOTCHEM 24.83 Increased By ▲ 0.48 (1.97%)
MLCF 21.37 Decreased By ▼ -0.11 (-0.51%)
NETSOL 84.20 Decreased By ▼ -0.59 (-0.7%)
OGDC 85.94 Decreased By ▼ -1.31 (-1.5%)
PAEL 11.01 Increased By ▲ 0.03 (0.27%)
PIBTL 4.17 Decreased By ▼ -0.05 (-1.18%)
PPL 74.56 Decreased By ▼ -1.14 (-1.51%)
PRL 13.40 Decreased By ▼ -0.25 (-1.83%)
SILK 0.92 Increased By ▲ 0.03 (3.37%)
SNGP 40.44 Decreased By ▼ -0.89 (-2.15%)
TELE 5.86 Increased By ▲ 0.01 (0.17%)
TPLP 15.42 Decreased By ▼ -0.22 (-1.41%)
TRG 111.63 Decreased By ▼ -0.07 (-0.06%)
UNITY 13.76 Decreased By ▼ -0.22 (-1.57%)
WTL 1.14 Decreased By ▼ -0.02 (-1.72%)
BR100 4,037 Decreased By -26.9 (-0.66%)
BR30 14,412 Decreased By -56.6 (-0.39%)
KSE100 40,471 Decreased By -262.4 (-0.64%)
KSE30 15,163 Decreased By -67.2 (-0.44%)
Follow us

Copper prices rose on Tuesday, as a low appetite for risky assets amid fears of weakening global economic growth weighed on prices.

Three-month copper on the London Metal Exchange fell 0.2% to $7,330 a tonne by 0329 GMT, while the most-traded October copper contract on the Shanghai Futures Exchange eased 0.3% to 60,910 yuan ($8,502.59) a tonne.

As global central banks hiked interest rates to curb sticky inflation, the world economic growth outlook weakened and threatened demand for metals and hurt risk sentiment.

LME copper inventories rose to 129,000 tonnes, their highest since Aug. 15.

China’s top copper smelters lifted their floor treatment and refining charges for the fourth quarter of 2022 to a five-year high, as rising concentrate supply is expected to outpace the expansion in smelting capacity.

Grim demand outlook pushes copper prices to 2-month low

However, inventories of copper in China bonded warehouses continued to deplete and were last at a record low of 81,800 tonnes.

LME aluminium fell 0.3% to $2,134 a tonne, while lead rose 0.4% to $1,762 a tonne.

ShFE aluminium declined 1.2% to 18,170 yuan a tonne, nickel was down 2.7% to 183,650 yuan a tonne, zinc decreased 1% to 24,235 yuan a tonne while tin rose 3.5% to 177,320 yuan a tonne.

Comments

Comments are closed.

Copper falls on weak growth outlook

At least five injured in explosion near Quetta Police Lines

Pakistan expresses unflinching support for Kashmiris on Solidarity Day

China's oil demand bounce may push producers to reconsider output: IEA

Foreign authorities seeking properties/bank accounts info: FBR won’t intimate concerned taxpayer about request

Maryam says PTI chief Imran should be thrown out of politics

Qatar sends envoy to Afghan capital to meet with Taliban

Qatar airport aims to beat passenger record

UK's shortest-serving PM Liz Truss blames economic 'orthodoxy' for downfall

Saudi non-oil private sector activity jumps in January on higher output, orders

India to ban Chinese-linked betting and loan lending apps