Copper remains weak on muted demand, global cues

Copper prices shed another Rs 2 per kg at the non-ferrous metal market today following sluggish demand from consuming industries coupled with a weak trend overseas.
Traders said apart from muted demand from consuming industries, a weak global trend as strengthening dollar, spurred losses in base metals after minutes of the Federal Reserve's last meeting brightened prospect of a June interest-rate hike,kept pressure on copper prices.
Meanwhile,copper for delivery in three months was down 0.4 per cent at USD 4,592.50 per tonne at the London Metal Exchange.
In the national capital, copper mixed scrap fell by Rs 2 to Rs 362 per kg.

Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 94-100, Nickel plate (4x4) Rs 830-835, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 362, chadri deshi Rs 295.
Lead ingot Rs 70, lead imported Rs 76, aluminium ingots Rs 153, aluminium sheet cutting Rs 149, aluminium wire scrap Rs 149 and aluminium utensils scrap Rs 147.