Copper softens on global cues

Copper prices softened by Rs 2 per kg on the local non-ferrous metal market today on weakening trend at the London Metal Exchange. 

Selling pressure in copper gathered momentum after the metal weakened at London Metal Exchange, as some investors sold the metal to lock in gains following its climb to an all-time high.   

Meanwhile, copper for three-month fell 0.6 per cent to $9,166.75 a metric tonne on the London Metal Exchange.

Traders said besides weakening trend at the LME, fall in demand at prevailing higher levels also dampened the trading sentiment in copper.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were down by Rs 2 each to Rs 462,Rs 486 and Rs 447 per kg.

Following were today's quotations in Rs per kg:

Tin ingot 825, zinc ingot 131.50, nickel plate (4x4) 1,022-1,024, gun metal scrap 226 bell metal scrap 228, copper wire scrap 462, copper wire bar 486, copper mixed scrap 447, 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