Copper down on weak global cues

NEW DELHI: 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 (4x4) 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 and aluminium utensils scrap 110.