AIRLINK 179.49 Decreased By ▼ -0.87 (-0.48%)
BOP 11.11 Decreased By ▼ -0.06 (-0.54%)
CNERGY 8.62 Increased By ▲ 0.09 (1.06%)
CPHL 100.80 Increased By ▲ 0.39 (0.39%)
FCCL 45.90 Decreased By ▼ -0.06 (-0.13%)
FFL 16.11 Increased By ▲ 0.30 (1.9%)
FLYNG 27.75 Decreased By ▼ -0.14 (-0.5%)
HUBC 141.80 Decreased By ▼ -0.67 (-0.47%)
HUMNL 13.04 Increased By ▲ 0.03 (0.23%)
KEL 4.50 Decreased By ▼ -0.02 (-0.44%)
KOSM 5.85 Increased By ▲ 0.01 (0.17%)
MLCF 61.91 Increased By ▲ 0.01 (0.02%)
OGDC 212.80 Decreased By ▼ -1.52 (-0.71%)
PACE 5.76 Decreased By ▼ -0.16 (-2.7%)
PAEL 46.30 Decreased By ▼ -0.53 (-1.13%)
PIAHCLA 17.70 Decreased By ▼ -0.14 (-0.78%)
PIBTL 10.72 Increased By ▲ 0.10 (0.94%)
POWER 12.13 Decreased By ▼ -0.04 (-0.33%)
PPL 171.50 Decreased By ▼ -1.21 (-0.7%)
PRL 35.75 Decreased By ▼ -0.27 (-0.75%)
PTC 23.10 Decreased By ▼ -0.16 (-0.69%)
SEARL 95.50 Decreased By ▼ -0.56 (-0.58%)
SSGC 40.55 Decreased By ▼ -0.79 (-1.91%)
SYM 14.35 Decreased By ▼ -0.09 (-0.62%)
TELE 7.46 Increased By ▲ 0.08 (1.08%)
TPLP 10.24 Increased By ▲ 0.16 (1.59%)
TRG 67.40 Decreased By ▼ -0.50 (-0.74%)
WAVESAPP 10.00 No Change ▼ 0.00 (0%)
WTL 1.34 No Change ▼ 0.00 (0%)
YOUW 3.87 Increased By ▲ 0.06 (1.57%)
AIRLINK 179.49 Decreased By ▼ -0.87 (-0.48%)
BOP 11.11 Decreased By ▼ -0.06 (-0.54%)
CNERGY 8.62 Increased By ▲ 0.09 (1.06%)
CPHL 100.80 Increased By ▲ 0.39 (0.39%)
FCCL 45.90 Decreased By ▼ -0.06 (-0.13%)
FFL 16.11 Increased By ▲ 0.30 (1.9%)
FLYNG 27.75 Decreased By ▼ -0.14 (-0.5%)
HUBC 141.80 Decreased By ▼ -0.67 (-0.47%)
HUMNL 13.04 Increased By ▲ 0.03 (0.23%)
KEL 4.50 Decreased By ▼ -0.02 (-0.44%)
KOSM 5.85 Increased By ▲ 0.01 (0.17%)
MLCF 61.91 Increased By ▲ 0.01 (0.02%)
OGDC 212.80 Decreased By ▼ -1.52 (-0.71%)
PACE 5.76 Decreased By ▼ -0.16 (-2.7%)
PAEL 46.30 Decreased By ▼ -0.53 (-1.13%)
PIAHCLA 17.70 Decreased By ▼ -0.14 (-0.78%)
PIBTL 10.72 Increased By ▲ 0.10 (0.94%)
POWER 12.13 Decreased By ▼ -0.04 (-0.33%)
PPL 171.50 Decreased By ▼ -1.21 (-0.7%)
PRL 35.75 Decreased By ▼ -0.27 (-0.75%)
PTC 23.10 Decreased By ▼ -0.16 (-0.69%)
SEARL 95.50 Decreased By ▼ -0.56 (-0.58%)
SSGC 40.55 Decreased By ▼ -0.79 (-1.91%)
SYM 14.35 Decreased By ▼ -0.09 (-0.62%)
TELE 7.46 Increased By ▲ 0.08 (1.08%)
TPLP 10.24 Increased By ▲ 0.16 (1.59%)
TRG 67.40 Decreased By ▼ -0.50 (-0.74%)
WAVESAPP 10.00 No Change ▼ 0.00 (0%)
WTL 1.34 No Change ▼ 0.00 (0%)
YOUW 3.87 Increased By ▲ 0.06 (1.57%)
BR100 12,455 Decreased By -25.6 (-0.21%)
BR30 37,835 Decreased By -173 (-0.46%)
KSE100 116,679 Decreased By -96.3 (-0.08%)
KSE30 35,798 Decreased By -51.4 (-0.14%)

London aluminium edged higher on Thursday after the European Union proposed banning imports of the metal from Russia in a fresh package of sanctions over its invasion of Ukraine.

Three-month aluminium on the London Metal Exchange (LME) gained 0.3% to $2,626 a metric ton by 0215 GMT.

The EU ban would include aluminium alloys and have a one-year phase-in period, the proposal said, with “necessary” imports of 275,000 metric tons exempt for this period.

The 27-member bloc imported nearly 330,000 tons of Russian primary aluminium and alloys for the January-November period last year, according to Trade Data Monitor.

Aluminium led base metals higher after the EU proposal, said Daniel Hynes, senior commodity strategist and ANZ bank.

“The threat of further sanctions on Russia aluminium has seen an increase amount of the metal head to China,” Hynes said.

Benchmark copper was steady at $9,072, after hitting its lowest level since Jan. 8 on Wednesday.

The dollar index fell 0.1%, from a one-week high hit in the previous session as the Federal Reserve pressed the pause button on its easing cycle overnight.

A softer dollar makes greenback-priced commodities cheaper for holders of other currencies. Earlier this week, US President Donald Trump said he would impose tariffs on aluminium, copper and steel.

Echoing this stance, the White House said on Tuesday that Trump still plans to issue tariffs on Canada and Mexico on Saturday while weighing fresh tariffs on China.

Japan buyers agree to pay Q1 aluminium premium of $228/T, sources say

“We continue to expect LME base metal flat price weakness in response to confirmation of wider tariffs,” Citi said in a note.

“We expect Comex pricing of copper versus LME to widen further as tariffs are confirmed and implemented.”

LME zinc rose 0.2% to $2,787.5 a ton, lead climbed 0.4% to $1,967.5 and tin was up 0.3% at $30,195, while nickel shed 0.5% to $15,425.

The Shanghai Futures Exchange is closed for the Lunar New Year holiday.

Comments

200 characters