Copper trades lower on global cues

Copper prices fell by Rs 2 per kg in the local non-ferrous metal market today on fall in demand at existing higher levels amid a weakening global trend. 

Trading sentiment turned bearish after copper declined, the highest in almost seven weeks in London, on speculations that credit curbs will slow demand in China, the world's largest buyer of industrial metals.

Meanwhile, copper fell by 2.8% to $9,437 a metric tonne on the London Metal Exchange.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were down by Rs 2 each to Rs 526, Rs 549 and Rs 510 per kg, respectively.

 

Following were today's quotations per kg:

Tin ingot 860, zinc ingot 134.50, nickel plate (4x4) 1,082-1,084, gun metal scrap 226 bell metal scrap 228, copper wire scrap 526, copper wire bar 549, copper mixed scrap 510, Utensil scrap 224, Chadripital 175

Lead ingot 143, lead imported 145, aluminium ingots 104, sheet cutting 105, aluminium wire scrap 105 and aluminium utensils scrap 102