Copper remains weak on global cues

NEW DELHI: Tracking weakening global trend, copper continued its slide and fell by Rs 2 per kg in the local non-ferrous metal market on Saturday.

Other base metals, however, managed to close at previous levels on scattered demand from consuming industries.

Traders said reports of weakening trend at the London Metal Exchange on slowing global demand mainly kept pressure on the copper prices.

Meanwhile, copper for delivery in three months fell by 0.9 per cent to USD 7,486 a metric tonne on the London Metal Exchange.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were down by Rs 2 each to Rs 391, Rs 410 and Rs 371 per kg, respectively.

Following were today's quotations in Rs per kg: Tin ingot 805, zinc ingot 120.50, nickel plate (4x4) 915-919, gun metal scrap 226 bell metal scrap 228, copper wire scrap 391, copper wire bar 410, copper mixed scrap 371, Utensil scrap 224, Chadripital 175.

Lead ingot 124, lead imported 126, aluminium ingots 100, sheet cutting 103, aluminium wire scrap 100 and aluminium utensils scrap 100.