Copper firms up sustained demand, takes cues from global scene

MUMBAI: Copper prices firmed up at the non-ferrous metal market here today on heavy stockist buying amidst consistent demand from industrial users on the back of bullish London Metal Exchange (LME) cues.

Meanwhile, aluminium ingot and zinc declined due to subdued demand from alloy industries.

Globally, the industrial metal copper edged up in early trade at the LME, to its highest in nearly a week as the dollar dropped, while an incremental improvement in China's trade data also revived sentiment towards the metal.

Copper armiture shot-up by Rs 9 per kg to Rs 463 from last Saturday's closing level of Rs 454.

Copper sheet cutting surged by Rs 8 per kg to Rs 460 from Rs 452

Copper utensils scrap advanced by Rs 6 per kg to Rs 437 as against Rs 431 last weekend. Copper cable scrap and copper wire bar climbed by Rs 3 per kg each to Rs 483 and Rs 511 from Rs 480 and Rs 508.

Copper scrap heavy moved up by Rs 2 per kg to Rs 475 from Rs 473.

Brass utensils scrap edged-up by a Re per kg to Rs 330. However, aluminium ingots fell by Rs 3 per kg to Rs 173 as compared to Rs 176 previously and zinc softened by a Re per kg to Rs 185.