Copper remains weak on global cues

Copper prices declined by Rs 2 per kg on the local non-ferrous metal market today, owing to a weakening global trend. 

Trading sentiments in copper remained weak as it fell in London due to concerns that high stockpiles in warehouses monitored by the London Metal Exchange (LME) may signal China, the world's largest buyer, has enough metal and doesn't need to rebuild its own inventories. 

Meanwhile, copper fell by 1 per cent to $9,590.25 a tonne on the LME. 

In the national capital, copper wire crap, copper wire bar and copper mixed scrap were remained weak and shed another Rs 2 each to Rs 498, Rs 521 and Rs 482 per kg, respectively.

Following were today's quotations per kg: 

Tin ingot 838, zinc ingot 126.50, nickel plate (4x4) 1,045-1,047, gun metal scrap 226 bell metal scrap 228, copper wire scrap 498, copper wire bar 521, copper mixed scrap 482, Utensil scrap 224, Chadripital 175

Lead ingot 133, lead imported 135, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102