AGL 35.20 Decreased By ▼ -0.50 (-1.4%)
AIRLINK 123.23 Decreased By ▼ -10.27 (-7.69%)
BOP 5.04 Increased By ▲ 0.07 (1.41%)
CNERGY 3.91 Decreased By ▼ -0.12 (-2.98%)
DCL 8.15 Decreased By ▼ -0.27 (-3.21%)
DFML 44.22 Decreased By ▼ -3.18 (-6.71%)
DGKC 74.35 Decreased By ▼ -0.65 (-0.87%)
FCCL 24.47 Increased By ▲ 0.22 (0.91%)
FFBL 48.20 Increased By ▲ 2.20 (4.78%)
FFL 8.78 Decreased By ▼ -0.15 (-1.68%)
HUBC 145.85 Decreased By ▼ -8.25 (-5.35%)
HUMNL 10.85 Decreased By ▼ -0.15 (-1.36%)
KEL 4.00 Decreased By ▼ -0.06 (-1.48%)
KOSM 8.00 Decreased By ▼ -0.88 (-9.91%)
MLCF 32.80 Increased By ▲ 0.05 (0.15%)
NBP 57.15 Decreased By ▼ -0.65 (-1.12%)
OGDC 145.35 Increased By ▲ 2.55 (1.79%)
PAEL 25.75 Decreased By ▼ -0.26 (-1%)
PIBTL 5.76 Decreased By ▼ -0.16 (-2.7%)
PPL 116.80 Increased By ▲ 2.20 (1.92%)
PRL 24.00 Decreased By ▼ -0.15 (-0.62%)
PTC 11.05 Decreased By ▼ -0.42 (-3.66%)
SEARL 58.41 Increased By ▲ 0.41 (0.71%)
TELE 7.49 Decreased By ▼ -0.22 (-2.85%)
TOMCL 41.10 Decreased By ▼ -0.04 (-0.1%)
TPLP 8.31 Decreased By ▼ -0.36 (-4.15%)
TREET 15.20 Increased By ▲ 0.12 (0.8%)
TRG 55.20 Decreased By ▼ -4.70 (-7.85%)
UNITY 27.85 Decreased By ▼ -0.15 (-0.54%)
WTL 1.34 Decreased By ▼ -0.01 (-0.74%)
BR100 8,528 Increased By 68.1 (0.8%)
BR30 26,868 Decreased By -400.5 (-1.47%)
KSE100 81,459 Increased By 998 (1.24%)
KSE30 25,800 Increased By 331.7 (1.3%)

London Metal Exchange (LME) metals ended mostly weaker in ranges on Wednesday, drifting in thinly traded volumes on short and technical selling and profit-taking, traders said.
"The market's recent consolidation encouraged a bit of short selling in the early rings, with nickel having some technical (selling) pressure, and there was a bit of profit-taking later in the day when the dollar firmed," a trader said.
The dollar climbed against major currencies, buoyed by reports in the United States that signalled that the world's largest economy is growing at a generally healthy pace.
A stronger dollar typically puts downward pressure on the dollar-traded LME market.
LME options declarations passed routinely on Wednesday, traders said.
However, labour disputes at various plants, mines and smelters remain firmly within scope, underpinning support for metals prices.
Union workers at Alcoa's shuttered aluminium smelter in Wenatchee, Washington, planned to vote on the company's final contract proposal on Tuesday night.
Union leaders rejected an initial offer because it demanded concessions such as higher healthcare payments.
The company also faces possible worker stoppages over outsourcing work at plants in Indiana, Texas, Iowa and Tennessee, while another strike has shut down two-thirds of production at its aluminium smelter in Becancour, Quebec, since July 7.
And south of the border, operations have just resumed at Grupo Mexico's La Caridad mine copper mine after a 17-day strike, which the government had declared illegal.
Copper closed Wednesday's rings at $2,785 a tonne from $2,807 at Tuesday's kerb close, while aluminium was $17 lower at $1,686.
Zinc and nickel also edged down, although lead pushed up $20 as nearby supply tightness kept the backwardation up around $80, while tin was unchanged.

Copyright Reuters, 2004

Comments

Comments are closed.