AGL 40.18 Increased By ▲ 0.18 (0.45%)
AIRLINK 127.31 Increased By ▲ 0.27 (0.21%)
BOP 6.64 Decreased By ▼ -0.03 (-0.45%)
CNERGY 4.50 Decreased By ▼ -0.01 (-0.22%)
DCL 8.57 Increased By ▲ 0.02 (0.23%)
DFML 41.97 Increased By ▲ 0.53 (1.28%)
DGKC 87.75 Increased By ▲ 0.90 (1.04%)
FCCL 32.70 Increased By ▲ 0.42 (1.3%)
FFBL 65.21 Increased By ▲ 0.41 (0.63%)
FFL 10.33 Increased By ▲ 0.08 (0.78%)
HUBC 109.35 Decreased By ▼ -0.22 (-0.2%)
HUMNL 14.73 Increased By ▲ 0.05 (0.34%)
KEL 5.13 Increased By ▲ 0.08 (1.58%)
KOSM 7.54 Increased By ▲ 0.08 (1.07%)
MLCF 41.85 Increased By ▲ 0.47 (1.14%)
NBP 59.90 Decreased By ▼ -0.51 (-0.84%)
OGDC 193.85 Increased By ▲ 3.75 (1.97%)
PAEL 28.25 Increased By ▲ 0.42 (1.51%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 151.95 Increased By ▲ 1.89 (1.26%)
PRL 26.63 Decreased By ▼ -0.25 (-0.93%)
PTC 16.11 Increased By ▲ 0.04 (0.25%)
SEARL 85.60 Decreased By ▼ -0.40 (-0.47%)
TELE 7.65 Decreased By ▼ -0.06 (-0.78%)
TOMCL 35.50 Increased By ▲ 0.09 (0.25%)
TPLP 8.14 Increased By ▲ 0.02 (0.25%)
TREET 16.09 Decreased By ▼ -0.32 (-1.95%)
TRG 52.80 Decreased By ▼ -0.49 (-0.92%)
UNITY 26.40 Increased By ▲ 0.24 (0.92%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,958 Increased By 74.7 (0.76%)
BR30 30,930 Increased By 329.5 (1.08%)
KSE100 93,876 Increased By 520.2 (0.56%)
KSE30 29,094 Increased By 162.6 (0.56%)

US copper futures remained in negative territory early on Friday after data showing a 9 percent decline in new US home sales in November renewed growth concerns for the world's largest economy, analysts said.
"The data, again, highlights the weakness in the market," said Eric Wittenauer, futures analyst with A.G. Edwards in St. Louis, Missouri. "I would anticipate the market will continue the downtrend further today and into next week as we have hit some stiff resistance at the $3.21 (a lb) level, and then off of the US durable goods orders, combined with the home sales data today, the downtrend looks to be in place."
Copper for March delivery was down 3.40 cents to $3.0980 a lb by 11:03 am EST (1603 GMT) on the New York Mercantile Exchange's Comex division, near the lower end of its early $3.0730-$3.12 trading range.
Volumes were estimated at 3,435 lots by 10:00 am. On December 17, the benchmark March contract dropped to a nine-month low of $2.8530, but has been in a sharp rebound ever since, due to stronger copper prices in Shanghai which suggested a possible return of Chinese buyers back into the market. New single-family home sales declined 9 percent from a downwardly revised pace of 711,000 in October, the Commerce Department said.

Copyright Reuters, 2007

Comments

Comments are closed.