Copper remains weak on global cues

Copper prices today fell further by Rs 2 per kg at the local non-ferrous metals market on the back of weakening trend at the London Metal Exchange.

Reduced offtake from consuming industries also put pressure on the metal's prices.

Trading sentiment remained bearish as copper prices fell the most in a week on concern that Europe's debt will mount, which in turn would hamper the global economy and curb demand for industrial metals.

Meanwhile, copper for delivery in three months fell sharply to close the week at USD 6,926 a metric tonne at the London Metal Exchange.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were remained weak and shed another Rs 2 each to Rs 359, Rs 378 and Rs 338 per kg, respectively.

Following were today's quotations Rs per kg:

Tin ingot 790, zinc ingot 119.00, nickel plate (4x4) 885-999, gun metal scrap 226 bell metal scrap 228, copper wire scrap 359, copper wire bar 378, copper mixed scrap 338.00, Utensil scrap 224, Chadripital 175.

Lead ingot 118, lead imported 120, aluminium ingots 100,sheet cutting 101, aluminium wire scrap 97 and aluminium utensils scrap 96.