Copper prices weaken on lower global trend

NEW DELHI: Copper prices fell by Rs 2 per kg at the local non-ferrous metal market on Monday on sluggish demand from consuming industries amid a weak global trend.


Traders said sluggish demand from consuming industries amid a weak global trend as the dollar climbed after better-than-expected US employment data increased bets that the Federal Reserve will slow record monetary stimulus this year, mainly influenced copper prices.

Meanwhile, copper for delivery in three months lost 0.6 per cent at $ 6,747.25 a tonne on the London Metal Exchange.

In the national capital, copper mixed scrap declined by Rs 2 to 418 per kg.

The following are on Monday's metal rates per kg: Zinc ingot 109-115, nickel plate (4x4) 1,035-1,038 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 418, chadri deshi 285.

Lead ingot 145, lead imported 141, aluminium ingots 142, sheet cutting 143, aluminium wire scrap 146 and aluminium utensils scrap 142.