Copper remains weak on global trend

Copper prices remained weak and slipped by Rs 2 per kg on the local non-ferrous metal market today largely on a weak trend at the London Metal Exchange. 

Sentiment remained bearish after copper in London dropped, after China increased borrowing costs for the third time in four months raising concern that slowing growth may cut metals demand.

Meanwhile, copper for three-month delivery fell 0.7 per cent to $9,990 a metric tonne on the London Metal Exchange.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap shed another Rs 2 each to Rs 514, Rs 537 and Rs 498 per kg respectively.   

Following were today's quotations in Rs per kg:

Tin ingot 840, zinc ingot 132.50, nickel plate (4x4) 1,057-1,059, gun metal scrap 226 bell metal scrap 228, copper wire scrap 514, copper wire bar 537, copper mixed scrap 498, Utensil scrap 224, Chadripital 175

Lead ingot 137, lead imported 139, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102