AGL 40.26 Increased By ▲ 0.25 (0.62%)
AIRLINK 127.05 Decreased By ▼ -0.94 (-0.73%)
BOP 6.60 No Change ▼ 0.00 (0%)
CNERGY 4.49 Decreased By ▼ -0.11 (-2.39%)
DCL 8.63 Increased By ▲ 0.15 (1.77%)
DFML 41.89 Increased By ▲ 0.41 (0.99%)
DGKC 87.60 Increased By ▲ 1.02 (1.18%)
FCCL 32.89 Increased By ▲ 0.75 (2.33%)
FFBL 65.25 Decreased By ▼ -0.17 (-0.26%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.90 Decreased By ▼ -0.59 (-0.53%)
HUMNL 14.86 Increased By ▲ 0.11 (0.75%)
KEL 5.12 Decreased By ▼ -0.01 (-0.19%)
KOSM 7.53 Increased By ▲ 0.41 (5.76%)
MLCF 41.70 Increased By ▲ 0.05 (0.12%)
NBP 59.51 Decreased By ▼ -0.58 (-0.97%)
OGDC 194.30 Decreased By ▼ -0.39 (-0.2%)
PAEL 28.26 Increased By ▲ 0.31 (1.11%)
PIBTL 7.82 Decreased By ▼ -0.18 (-2.25%)
PPL 152.30 Increased By ▲ 1.13 (0.75%)
PRL 26.52 Decreased By ▼ -0.36 (-1.34%)
PTC 16.12 Increased By ▲ 0.12 (0.75%)
SEARL 83.00 Increased By ▲ 4.80 (6.14%)
TELE 7.66 Increased By ▲ 0.27 (3.65%)
TOMCL 35.45 Decreased By ▼ -0.22 (-0.62%)
TPLP 8.19 Increased By ▲ 0.28 (3.54%)
TREET 16.19 Increased By ▲ 0.30 (1.89%)
TRG 53.00 Increased By ▲ 0.24 (0.45%)
UNITY 26.50 Decreased By ▼ -0.05 (-0.19%)
WTL 1.25 Decreased By ▼ -0.02 (-1.57%)
BR100 9,930 Increased By 9.7 (0.1%)
BR30 30,797 Increased By 45.1 (0.15%)
KSE100 93,636 Increased By 411.6 (0.44%)
KSE30 29,023 Increased By 138.5 (0.48%)

The most-traded copper contract on the Shanghai Futures Exchange was up 0.54 percent at 46,790 yuan ($6,747) a tonne on Thursday after the US raised interest rates for the first time this year. ShFE zinc was up 2.3 percent, while Shanghai nickel edged 0.46 percent higher. ShFE aluminium ended the session down 0.91 percent, after initially dropping more than 2 percent.
The US Federal Reserve on Wednesday hiked rates by a quarter point and signalled a faster pace of increases in 2017. "The signs of a stronger copper market heading into 2017 are there," said Gavin Wendt at commodity advisory firm MineLife in Sydney. "China's economy is growing at a healthy pace and rising US rate hikes point to a recovery in the US."
Growing tightness in the base metal market continues to weigh on inventories held at exchanges, ANZ Bank commodities analyst Daniel Hynes said in a note. "Another large drawdown in stocks in November has seen them hit levels not seen since just before the 2008 financial crisis," he said.

Copyright Reuters, 2016

Comments

Comments are closed.