Copper strengthens on global cues

Copper prices strengthened by Rs 2 per kg on the local non-ferrous metal market today, largely on firming global trend.

Elsewehre, other base metals after moving in a tight range on some support, settled around previous closing.

Traders said rise in copper prices mostly attributed to firming trend in New York.

Meanwhile,  copper for March delivery gained 0.9 per cent to $4.2985 a pound, the highest ever. The London Metal Exchange is closed today and tomorrow for public holidays.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were enquired higher by Rs 2 each to Rs 463, Rs 487 and Rs 448 per kg, respectively.

Following were today's quotations in Rs per kg:

Tin ingot 820, zinc ingot 132.50, nickel plate (4x4) 1,015-1,017, gun metal scrap 226 bell metal scrap 228, copper wire scrap 463, copper wire bar 487, copper mixed scrap 448, Utensil scrap 224, Chadripital 175.

Lead ingot 135, lead imported 137, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102.