AIRLINK 173.68 Decreased By ▼ -2.21 (-1.26%)
BOP 10.82 Decreased By ▼ -0.16 (-1.46%)
CNERGY 8.26 Increased By ▲ 0.26 (3.25%)
FCCL 46.41 Increased By ▲ 0.29 (0.63%)
FFL 16.14 Increased By ▲ 0.07 (0.44%)
FLYNG 27.80 Increased By ▲ 0.38 (1.39%)
HUBC 146.32 Increased By ▲ 2.36 (1.64%)
HUMNL 13.40 Increased By ▲ 0.05 (0.37%)
KEL 4.39 Decreased By ▼ -0.11 (-2.44%)
KOSM 5.93 Decreased By ▼ -0.05 (-0.84%)
MLCF 59.66 Increased By ▲ 0.16 (0.27%)
OGDC 232.73 Decreased By ▼ -0.02 (-0.01%)
PACE 5.80 Decreased By ▼ -0.08 (-1.36%)
PAEL 47.98 Increased By ▲ 0.50 (1.05%)
PIAHCLA 17.75 Decreased By ▼ -0.22 (-1.22%)
PIBTL 10.40 Decreased By ▼ -0.18 (-1.7%)
POWER 11.32 Decreased By ▼ -0.06 (-0.53%)
PPL 191.48 Decreased By ▼ -1.82 (-0.94%)
PRL 36.83 Decreased By ▼ -0.17 (-0.46%)
PTC 23.20 Decreased By ▼ -0.57 (-2.4%)
SEARL 98.76 Decreased By ▼ -1.11 (-1.11%)
SILK 1.15 No Change ▼ 0.00 (0%)
SSGC 36.62 Decreased By ▼ -0.57 (-1.53%)
SYM 14.70 Decreased By ▼ -0.25 (-1.67%)
TELE 7.73 Decreased By ▼ -0.02 (-0.26%)
TPLP 10.75 Decreased By ▼ -0.12 (-1.1%)
TRG 66.01 Increased By ▲ 0.87 (1.34%)
WAVESAPP 10.82 Decreased By ▼ -0.09 (-0.82%)
WTL 1.32 Decreased By ▼ -0.02 (-1.49%)
YOUW 3.79 Decreased By ▼ -0.02 (-0.52%)
AIRLINK 173.68 Decreased By ▼ -2.21 (-1.26%)
BOP 10.82 Decreased By ▼ -0.16 (-1.46%)
CNERGY 8.26 Increased By ▲ 0.26 (3.25%)
FCCL 46.41 Increased By ▲ 0.29 (0.63%)
FFL 16.14 Increased By ▲ 0.07 (0.44%)
FLYNG 27.80 Increased By ▲ 0.38 (1.39%)
HUBC 146.32 Increased By ▲ 2.36 (1.64%)
HUMNL 13.40 Increased By ▲ 0.05 (0.37%)
KEL 4.39 Decreased By ▼ -0.11 (-2.44%)
KOSM 5.93 Decreased By ▼ -0.05 (-0.84%)
MLCF 59.66 Increased By ▲ 0.16 (0.27%)
OGDC 232.73 Decreased By ▼ -0.02 (-0.01%)
PACE 5.80 Decreased By ▼ -0.08 (-1.36%)
PAEL 47.98 Increased By ▲ 0.50 (1.05%)
PIAHCLA 17.75 Decreased By ▼ -0.22 (-1.22%)
PIBTL 10.40 Decreased By ▼ -0.18 (-1.7%)
POWER 11.32 Decreased By ▼ -0.06 (-0.53%)
PPL 191.48 Decreased By ▼ -1.82 (-0.94%)
PRL 36.83 Decreased By ▼ -0.17 (-0.46%)
PTC 23.20 Decreased By ▼ -0.57 (-2.4%)
SEARL 98.76 Decreased By ▼ -1.11 (-1.11%)
SILK 1.15 No Change ▼ 0.00 (0%)
SSGC 36.62 Decreased By ▼ -0.57 (-1.53%)
SYM 14.70 Decreased By ▼ -0.25 (-1.67%)
TELE 7.73 Decreased By ▼ -0.02 (-0.26%)
TPLP 10.75 Decreased By ▼ -0.12 (-1.1%)
TRG 66.01 Increased By ▲ 0.87 (1.34%)
WAVESAPP 10.82 Decreased By ▼ -0.09 (-0.82%)
WTL 1.32 Decreased By ▼ -0.02 (-1.49%)
YOUW 3.79 Decreased By ▼ -0.02 (-0.52%)
BR100 12,644 Increased By 35.1 (0.28%)
BR30 39,387 Increased By 124.3 (0.32%)
KSE100 117,807 Increased By 34.4 (0.03%)
KSE30 36,347 Increased By 50.4 (0.14%)

LONDON: Copper and aluminium prices fell to their lowest levels in at least three and a half months on Monday, amid demand concerns in top consumer China and high inventory levels at warehouses.

Three-month copper on the London Metal Exchange eased 0.2% to $9,286.50 per metric ton by 0950 GMT after hitting $9,233.5, its weakest since April 8.

Aluminium lost 1% to $2,328 a ton after hitting $2,326, its lowest since March 28, breaking below its 200-day moving average of $2,354. Metal markets were looking for signs that the Chinese government would take action to address the country’s prolonged property slump, the biggest driver of industrial metals demand.

However, last week’s key political meeting failed to lay our more policies to prop up demand for metals, said ING commodities analyst Ewa Manthey.

“Without further stimulus measures, there is little hope for a near-term recovery for the property and construction sector. We expect copper and other industrial metals prices to decline further in the near term to reflect a softer demand outlook in China,” Manthey said. China, however, surprised markets by lowering a string of major interest rates on Monday following last week’s weaker-than-expected second-quarter economic data.

Copper is down 16% since reaching a record high of $11,104.50 on May 20, and this has revived some physical buying in China. The premium to import copper into China rose to $9 a ton on Friday, the highest since April 15.

Chinese refined copper exports in June jumped about seven times compared to last year, while copper inventories in LME-registered warehouses, according to the daily LME data, are at 234,400 tons, the highest since September 2021.

LME zinc was down 0.9% at $2,749.50, lead fell 1.0% to $2,106.50, tin dropped 1.3% to $30,660 and nickel slipped 0.1% to $16,230.

Comments

Comments are closed.