Copper and other base metal prices drifted up to Rs 5 per kg in the non-ferrous metal market today on emergence of selling by stockists, triggered by a weakening global trend.
Trading sentiment remained bearish after copper declined in global markets, as the dollar strengthened against the Euro on mounting concern that Europe's debt crisis is escalating.
Meanwhile, copper for three-month delivery fell by 0.5 per cent to $7,868, zinc by 1.1 per cent to $2,184 and lead by 0.8 per cent to $2,250 a metric tonne on the London Metal Exchange.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were remained under selling pressure and lost another Rs 5 each to Rs 406, Rs 425 and Rs 386 per kg, respectively.
Zinc ingot, lead ingot and lead imported were down by Rs 2 each to Rs 119.50, Rs 123 and Rs 125 per kg. In line with general weakening trend, nickel (4x4) shed Rs 2 to Rs 953-957 per kg.
Following were today's quotations in Rs per kg:
Tin ingot 800, zinc ingot 119.50, nickel plate (4x4) 953-957, gun metal scrap 226 bell metal scrap 228, copper wire scrap 406, copper wire bar 425, copper mixed scrap 386.00, Utensil scrap 224, Chadripital 175
Lead ingot 123, lead imported 125, aluminium ingots 100, sheet cutting 103, aluminium wire scrap 100 and aluminium utensils scrap 100
