Copper remains weak on global trend

In limited deals, copper continued to drift by losing Rs 2 per kg on the local non-ferrous metal market today due to reduced offtake by consuming industries, amid weakening trend at the London Metal Exchange (LME). 

Copper for three-month dropped by 0.3 per cent to $9,322.25 a tonne at the LME as recent rally in metal prices deterred buying in China, which is the largest consumer.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap remained remained weak and shed another Rs 2 each to Rs 461, Rs 485 and Rs 446 per kg, respectively.

Following were today's quotations in Rs per kg:

Tin ingot 820, zinc ingot 132.50, nickel plate (4x4) 1,015-1,017, gun metal scrap 226 bell metal scrap 228, copper wire scrap 461, copper wire bar 485, copper mixed scrap 446, Utensil scrap 224, Chadripital 175

Lead ingot 135, lead imported 137, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102