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Copper weakens on reduced demand

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Press Trust of India Mumbai

Copper weakened further at the non-ferrous metal market here today on stockists' selling amid reduced demand from industrial users.

While, brass and zinc recovered marginally owing to renewed demand from consuming industries.

Copper cable scrap, copper scrap heavy and copper sheet cuttings slid by Rs 6 per kg each to Rs 451, Rs 445 and Rs 479 from Wednesday's closing level of Rs 457, Rs 451 and Rs 445, respectively.

Copper armature and copper sheet cuttings moved down by Rs 5 per kg each to Rs 443 and Rs 440 as against Rs 448 and Rs 445 yesterday.

Copper utensils softened by Rs 2 per kg to Rs 423 from Rs 425.

 

However, brass sheet cuttings regained by Rs 3 per kg to Rs 355 as against Rs 352 and zinc rose by Rs 2 per kg to Rs 212 from Rs 210 previously.

Brass utensils scrap inched up to Rs 338 per kg.

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First Published: Jul 19 2018 | 4:45 PM IST

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