Copper extend weakness on global cues

Copper extended losses and prices fell by Rs 2 per kg again at local market here today, largely in tandem with a weakening global trend.

However, other base metals moved in a narrow range in limited deals and settled around previous levels.

Traders said sentiment in copper remained bearish after it fell in global markets on speculation that demand will weaken as manufacturing slows in China and the US, the world's biggest metals users.

Meanwhile, copper for delivery in three months fell 0.4% to $6,227.75 a metric tonne on the London Metal Exchange.

In the national capital, prices of copper mixed scrap were down by Rs 2 to Rs 403 per kg.

Following are today's metal rates (in Rs per kg):

Zinc ingot 114-120, Nickel plate (4x4) 1,087-1,093, Gun metal scrap 227, Bell metal scrap 229, Copper mixed scrap 403, Chadri deshi 285.

Lead ingot 106, Lead imported 107, Aluminium ingots 166, Aluminium sheet cutting 167, Aluminium wire scrap 169 and Aluminium utensils scrap 166.