AIRLINK 58.23 Decreased By ▼ -0.37 (-0.63%)
BOP 6.24 Increased By ▲ 0.03 (0.48%)
CNERGY 3.97 Decreased By ▼ -0.02 (-0.5%)
DFML 16.07 Increased By ▲ 0.06 (0.37%)
DGKC 67.61 Increased By ▲ 0.29 (0.43%)
FCCL 17.82 Increased By ▲ 0.27 (1.54%)
FFBL 25.40 Decreased By ▼ -0.49 (-1.89%)
FFL 9.15 Increased By ▲ 0.01 (0.11%)
GGL 9.79 Increased By ▲ 0.02 (0.2%)
HBL 113.77 Increased By ▲ 1.27 (1.13%)
HUBC 111.61 Decreased By ▼ -3.68 (-3.19%)
HUMNL 6.55 Decreased By ▼ -0.04 (-0.61%)
KEL 4.39 Increased By ▲ 0.17 (4.03%)
KOSM 4.59 Increased By ▲ 1.03 (28.93%)
MLCF 37.73 Increased By ▲ 0.62 (1.67%)
OGDC 125.21 Increased By ▲ 8.81 (7.57%)
PAEL 22.61 Decreased By ▼ -0.10 (-0.44%)
PIAA 11.10 Increased By ▲ 0.31 (2.87%)
PIBTL 6.17 Decreased By ▼ -0.08 (-1.28%)
PPL 109.07 Increased By ▲ 5.07 (4.88%)
PRL 26.84 Increased By ▲ 0.45 (1.71%)
PTC 10.48 Increased By ▲ 0.95 (9.97%)
SEARL 52.85 Increased By ▲ 0.86 (1.65%)
SNGP 66.38 Increased By ▲ 1.26 (1.93%)
SSGC 11.01 Increased By ▲ 0.08 (0.73%)
TELE 7.13 Decreased By ▼ -0.08 (-1.11%)
TPLP 11.93 Decreased By ▼ -0.06 (-0.5%)
TRG 76.07 Decreased By ▼ -0.78 (-1.01%)
UNITY 20.47 Decreased By ▼ -0.02 (-0.1%)
WTL 1.30 No Change ▼ 0.00 (0%)
BR100 6,441 Increased By 109.2 (1.72%)
BR30 22,098 Increased By 468.8 (2.17%)
KSE100 62,816 Increased By 901.5 (1.46%)
KSE30 21,134 Increased By 282.7 (1.36%)

London copper prices fell on Monday as risk sentiment was dampened by the prospects of higher-for-longer interest rates in the United States, while buying slowed ahead of a long public holiday in top consumer China.

Three-month copper on the London Metal Exchange fell 0.3% to $8,198 per metric ton by 0209 GMT, while the most-traded November copper contract on the Shanghai Futures Exchange was almost flat at 67,790 yuan ($9,282.11) per metric ton.

Central banks for the world’s biggest economies, including the US Federal Reserve, have indicated they will keep interest rates as high as needed to tame inflation.

A high interest rate environment could temper economic growth and eventually dampen metals demand.

It could also mean a stronger US dollar, which makes greenback-priced metals more expensive to holders of other currencies.

Markets in China, which accounts for around half of copper consumption globally, will be shut for public holidays during Sept. 29-Oct. 6.

Copper stockpiles in LME-registered warehouses rose to the highest since May 2022 at 162,900 tons on Wednesday, latest data showed, putting further pressure on prices.

LME aluminium declined 0.6% to $2,227.50 a ton, nickel fell 0.3% to $19,370, zinc dropped 1.3% to $2,529.50, lead decreased 0.5% to $2,203.50, and tin rose 0.3% to $26,330.

SHFE aluminium fell 0.1% to 19,315 yuan a ton, zinc eased 0.1% to 21,605 yuan, while nickel rose 0.7% to 157,980 yuan, lead increased 0.4% to 16,870 yuan and tin climbed 2.4% to 222,700 yuan.

Comments

200 characters