Copper remains weak on weak global trend

Copper remained weak for the second straight day and shed Rs 2 more per kg on the  local non-ferrous metal market today largely on a weak global trend.

Marketmen said beside a weak trend in global markets, reduced offtake by consuming industries led to decline in copper prices.

Meanwhile, copper for delivery in three months dropped by 1.2 per cent to $8,239 a metric tone on the London Metal Exchange.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were remained weak and lost Rs 2 each to Rs 439, Rs 463 and Rs 424 per kg. 

Following were today's quotations in Rs per kg:

Tin ingot 815, zinc ingot 130.50, nickel plate (4x4) 995-997, gun metal scrap 226 bell metal scrap 228, copper wire scrap 439, copper wire bar 463, copper mixed scrap 424, Utensil scrap 224, Chadripital 175

Lead ingot 134, lead imported 136, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102