AGL 40.01 Decreased By ▼ -0.99 (-2.41%)
AIRLINK 127.99 Decreased By ▼ -0.15 (-0.12%)
BOP 6.60 Decreased By ▼ -0.10 (-1.49%)
CNERGY 4.60 Increased By ▲ 0.08 (1.77%)
DCL 8.48 Decreased By ▼ -0.13 (-1.51%)
DFML 41.48 Increased By ▲ 0.39 (0.95%)
DGKC 86.58 Decreased By ▼ -0.55 (-0.63%)
FCCL 32.14 Decreased By ▼ -1.25 (-3.74%)
FFBL 65.42 Increased By ▲ 0.01 (0.02%)
FFL 10.25 Decreased By ▼ -0.22 (-2.1%)
HUBC 110.49 Decreased By ▼ -0.14 (-0.13%)
HUMNL 14.75 Decreased By ▼ -0.55 (-3.59%)
KEL 5.13 Increased By ▲ 0.15 (3.01%)
KOSM 7.12 Decreased By ▼ -0.31 (-4.17%)
MLCF 41.65 Decreased By ▼ -1.34 (-3.12%)
NBP 60.09 Decreased By ▼ -0.33 (-0.55%)
OGDC 194.69 Decreased By ▼ -2.95 (-1.49%)
PAEL 27.95 Decreased By ▼ -1.06 (-3.65%)
PIBTL 8.00 Decreased By ▼ -0.26 (-3.15%)
PPL 151.17 Decreased By ▼ -2.99 (-1.94%)
PRL 26.88 Increased By ▲ 1.88 (7.52%)
PTC 16.00 Decreased By ▼ -0.09 (-0.56%)
SEARL 78.20 Decreased By ▼ -0.25 (-0.32%)
TELE 7.39 Increased By ▲ 0.02 (0.27%)
TOMCL 35.67 Decreased By ▼ -0.42 (-1.16%)
TPLP 7.91 Decreased By ▼ -0.16 (-1.98%)
TREET 15.89 Decreased By ▼ -0.07 (-0.44%)
TRG 52.76 Decreased By ▼ -0.60 (-1.12%)
UNITY 26.55 Decreased By ▼ -0.16 (-0.6%)
WTL 1.27 No Change ▼ 0.00 (0%)
BR100 9,920 Decreased By -52.1 (-0.52%)
BR30 30,751 Decreased By -346.3 (-1.11%)
KSE100 93,225 Decreased By -423.8 (-0.45%)
KSE30 28,885 Decreased By -132.9 (-0.46%)

Shanghai copper came within a whisker of its highest in four years on Monday after a rally in steel unleashed short-covering across metals, before prices quickly retraced in line with a stronger dollar. Shanghai Futures Exchange copper surged more than 1 percent to top out at 51,060 yuan ($7,598), just shy of February's 51,200 yuan high, a breach of which would take prices back to levels last seen in April 2013. SHFE copper last traded up 0.1 percent at 50,440 a tonne.
SHFE aluminium rallied more than 3 percent to hit the highest since January 2013 on prospects of supply shutdowns in top producer China. "The recent driver of prices and demand in China has been the iron ore and steel rebar prices ... which tend to lead to general buying of all the industrial metals," said Kingdom Futures in a report.
Premiums to obtain physical delivery of copper and zinc either in Shanghai or enroute to Shanghai fell, reflecting falling physical demand due to high prices. Nickel premiums hit the highest in two years, due to robust financing demand.

Comments

Comments are closed.