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Copper weakens on global cues

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Press Trust of India New Delhi
Last Updated : Apr 07 2014 | 3:25 PM IST
copper prices declined by Rs 4 per kg on the local non-ferrous base metals market today largely in tandem with a weakening global trend.
Traders attributed the fall in copper to weak global trend where it dropped to a one-week low after US jobs data added to signs of slowing growth in the world's second-biggest user amid increasing mine supplies.
Meanwhile, copper for delivery in three months retreated 0.6 per cent to USD 6,577.50 a tonne, the lowest intra-day level since March 28 on the London Metal Exchange.
In the national capital, copper mixed scrap fell by Rs 4 to Rs 440 per kg.
The following were today's metal rates per kg:
Zinc ingot 117-123, nickel plate (4x4) 1,064-1,065 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 440, chadri deshi 285.
Lead ingot 128, lead imported 126, aluminium ingots 148, Aluminium sheet cutting 149, aluminium wire scrap 151 and aluminium utensils scrap 148.

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First Published: Apr 07 2014 | 3:25 PM IST

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