Copper weakens on sluggish demand

Copper, internationally, was down before industrial output data from US, China

Copper prices fell by Rs 2 per kg on the local non-ferrous base metals market today due to reduced industrial offtake amid a weak global trend.

 

Traders said reduced industrial offtake and a weak global trend where copper dropped before industrial output data from the US and on concern that credit is tightening in China mainly influenced metal prices.

 

Meanwhile, copper for delivery in three months fell 0.4% to 7,155 dollar a metric tonne on the London Metal Exchange.

 

In the national capital, copper mixed scrap shed Rs 2 to Rs 428 per kg.