Copper weakens on subdued industrial demand

Copper turned weak and traded lower by Rs 2 per kg lower at the local non-ferrous base metals market today on reduced industrial offtake amid a weak global trend.
Other base metals, including lead and nickel, however, remained steady in the absence of worthwhile activity.
Traders said besides reduced industrial offtake, subdued global trend after China's manufacturing weakened in April dampened the sentiment.
Meanwhile, copper for July delivery fell 0.3 per cent to 47,520 yuan (USD 7,610 ) per tonne at the Shanghai Futures Exchange. The London Metal Exchange is closed for a public holiday today.
In the national capital, copper mixed scrap declined by Rs 2 to Rs 435 per kg.

Following are today's metal rates per kg:
Zinc ingot 117-123, nickel plate (4x4) 1,072-1,073 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 435, chadri deshi 285.
Lead ingot 126, lead imported 124, aluminium ingots 148, Aluminium sheet cutting 149, aluminium wire scrap 151 and aluminium utensils scrap 148.