AGL 38.51 Increased By ▲ 0.29 (0.76%)
AIRLINK 129.00 Increased By ▲ 0.03 (0.02%)
BOP 8.74 Increased By ▲ 0.89 (11.34%)
CNERGY 4.74 Increased By ▲ 0.08 (1.72%)
DCL 8.68 Increased By ▲ 0.36 (4.33%)
DFML 38.75 Decreased By ▼ -0.19 (-0.49%)
DGKC 85.30 Increased By ▲ 3.36 (4.1%)
FCCL 35.05 Increased By ▲ 1.63 (4.88%)
FFBL 75.80 Increased By ▲ 0.09 (0.12%)
FFL 12.80 Decreased By ▼ -0.02 (-0.16%)
HUBC 110.72 Increased By ▲ 0.36 (0.33%)
HUMNL 14.44 Increased By ▲ 0.43 (3.07%)
KEL 5.42 Increased By ▲ 0.27 (5.24%)
KOSM 7.72 Increased By ▲ 0.05 (0.65%)
MLCF 41.25 Increased By ▲ 1.45 (3.64%)
NBP 71.71 Decreased By ▼ -0.61 (-0.84%)
OGDC 192.00 Increased By ▲ 3.71 (1.97%)
PAEL 26.30 Increased By ▲ 0.67 (2.61%)
PIBTL 7.50 Increased By ▲ 0.13 (1.76%)
PPL 157.98 Increased By ▲ 5.31 (3.48%)
PRL 25.95 Increased By ▲ 0.56 (2.21%)
PTC 18.80 Increased By ▲ 1.10 (6.21%)
SEARL 83.00 Increased By ▲ 0.58 (0.7%)
TELE 7.86 Increased By ▲ 0.27 (3.56%)
TOMCL 33.15 Increased By ▲ 0.58 (1.78%)
TPLP 8.50 Increased By ▲ 0.08 (0.95%)
TREET 16.87 Increased By ▲ 0.09 (0.54%)
TRG 56.30 Increased By ▲ 0.26 (0.46%)
UNITY 28.95 Increased By ▲ 0.17 (0.59%)
WTL 1.35 No Change ▼ 0.00 (0%)
BR100 10,786 Increased By 127 (1.19%)
BR30 31,971 Increased By 639.3 (2.04%)
KSE100 100,335 Increased By 1065.3 (1.07%)
KSE30 31,307 Increased By 274.6 (0.88%)

The most-traded August copper contract on the Shanghai Futures Exchange closed at 51,770 yuan ($8,400) a tonne, up 1.55 percent on Friday. "The picture for me hasn't changed," said Dominic Schnider, an analyst at UBS Wealth Management in Singapore, adding second-quarter growth could cause concern to the market. "In Europe and the US leading indicators have been disappointing on average," he said.
"Fundamentally I'm thinking that copper should hang around $6,500 a tonne. But with the technical picture indicating a further rebound and the market positioned short, $7,490 is where prices are probably heading in coming weeks," he said.

Copyright Reuters, 2013

Comments

Comments are closed.