Copper remains weak on global cues, tepid demand

Copper prices fell further by Rs 3 per kg at the non-ferrous metal market today largely on weak global cues amid muted demand from consuming industries.

Traders said apart from a weak trend overseas on profit- taking, rising inventories at the exchange's warehouses, nervousness about demand in China and a higher dollar.

Besides, subdued demand from consuming industries at domestic markets too weighed on copper prices.

Copper for delivery in three month ended lower 1.9 per cent at USD 6,543 a metric tonne at the London Metal Exchange yesterday.

In the national capital, copper mixed scrap declined by Rs 3 to Rs 360 per kg.

Following are today's metal rates (in Rs per kg): Zinc ingot Rs 110-116, Nickel plate (4x4) Rs 780-790, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 360, chadri deshi Rs 295.

Lead ingot Rs 110, lead imported Rs 116, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)