Copper weakens on sluggish demand

Copper prices declined by Rs 2 per kg on the wholesale non-ferrous metal market today on reduced industrial demand, amid a weakening global trend.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were down by Rs 2 each to Rs 520, Rs 543 and Rs 504 per kg, respectively.

Traders said fall in industrial demand at prevailing higher levels amid weakening trend in global markets mainly weighed on the copper prices.

Following were today's quotations in Rs per kg:

Tin ingot 845, zinc ingot 132.50, nickel plate (4x4) 1,062-1,064, gun metal scrap 226 bell metal scrap 228, copper wire scrap 520, copper wire bar 543, copper mixed scrap 504, Utensil scrap 224, Chadripital 175

Lead ingot 139, lead imported 141, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102