Copper, tin up on industrial demand, global cues

Prices of copper and tin moved up by Rs 2 per kg in the local non-ferrous metal market today on pick-up in industrial demand amid firming trend at London Metal Exchange.  

Buying activity in copper picked as the metal rose in London, on expectations that demand will be robust, outweighing concerns about slowing economic growth in China and Japan.  

Meanwhile, copper for the three-month-delivery gained 0.4 per cent to $9,619 while tin rose by 0.4 per cent to $31,700 a metric tonne on the London Metal Exchange.  

In the national capital, copper wire crap, copper wire bar and copper mixed scrap remained in demand and added Rs 2 each to Rs 502, Rs 525 and Rs 486 per kg, respectively.

Tin ingot also traded higher by the same margin to Rs 840 per kg.

Following were today's quotations per kg:

Tin ingot 840, zinc ingot 127.50, nickel plate (4x4) 1,047-1,049, gun metal scrap 226 bell metal scrap 228, copper wire scrap 502, copper wire bar 525, copper mixed scrap 486, 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