Copper strengthens on global cues

Copper prices strengthened by Rs 2 per kg in the local non-ferrous metal market today on a firming trend at London Metal Exchange (LME).

Buying activity in copper picked as the metal climbed in global markets, as low interest rates and better-than-forecast home sales data in the US bolstered the demand outlook for the metal used in pipes and wires. 

Meanwhile, copper for three-month delivery rose 0.6 per cent to $9,500 a metric tonne on the London Metal Exchange. 

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap remained in demand and added another Rs 2 each to 490, Rs 513 and Rs 474 per kg, respectively.  

Following were today's quotations in Rs per kg: 

Tin ingot 830, zinc ingot 131.50, nickel plate (4x4) 1,040-1,042, gun metal scrap 226 bell metal scrap 228, copper wire scrap 490, copper wire bar 513. copper mixed scrap 474, Utensil scrap 224, Chadripital 175

Lead ingot 136, lead imported 138, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102