Copper extended losses and prices traded lower by Rs 2 per kg on the local non-ferrous metals market today on persistent selling by stockists in tandem with a weakening global trend.
Traders said sentiment in copper remained weak after the metal traded near a three-week low in global markets on concern that a probe into financing transactions at China's Qingdao Port will curb demand for the metal to use as collateral.
Meanwhile, copper for delivery in three months saw little change at USD 6,774 a tonne, after touching USD 6,754 yesterday, the lowest since May 12 on the London Metal Exchange.
In the national capital, copper mixed scrap fell further by Rs 2 to Rs 434 per kg.
Following are today's metal rates per kg:
Zinc ingot 111-117, nickel plate (4x4) 1,088-1,089 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 434, chadri deshi 285.
Lead ingot 118, lead imported 116, aluminium ingots 152, Aluminium sheet cutting 153, aluminium wire scrap 155 and aluminium utensils scrap 152.
