Copper down on weak global cues

Copper down on weak global cues

Copper fell by about 1 pct to $7,310 on London Metal Exchange.

Copper prices fell down by Rs 2 per kg on the local non-ferrous metal market today,due to reduced industrial offtake amid a weakening global trend.

Traders said reduced industrial offtake amid weakening trend at the London Metal Exchange (LME),mainly helped copper prices to trade lower.

Meanwhile,copper fell by 0.8 per cent to USD 7,310 on the LME.

In the national capital,copper wire scrap,copper wire bar and copper mixed scrap were down by Rs 2 each to Rs 487,Rs 510 and Rs 472 per kg,respectively.

Following were today’s quotations in Rs per kg:

Tin ingot 816,

zinc ingot 126.50

nickel plate (4×4) 1,040-1,042

gun metal scrap 226 bell metal scrap 228

copper wire scrap Rs 487

copper wire bar 510

copper mixed scrap 472

utensil scrap 224

chadripital 175

Lead ingot 131

lead imported 136

aluminium ingots 113

sheet cutting 114

aluminium wire scrap 115

aluminium utensils scrap 110