Copper falls on global cues

NEW DELHI: Tracking a weak global trend, copper prices declined by Rs 2 per kg on the local non-ferrous metals market today.

Traders said sentiment in copper turned bearish after it declined in overseas markets amid concern that supply growth will outpace demand from China, the world's biggest consumer.

Meanwhile, copper for delivery in three months dropped 0.8 per cent to USD 7,572.50 a tonne on the London Metal Exchange.

In the national capital, copper mixed scrap fell by Rs 2 to Rs 428 per kg.

The following are metal rates per kg: Zinc ingot 121-127, nickel plate (4x4) 1,054-1,057, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 428, chadri deshi 285.

Lead ingot 140, lead imported 138, aluminium ingots 140, sheet cutting 141, aluminium wire scrap 144 and aluminium utensils scrap 140.