Indian copper prices remained weak and shed another INR 2 per kilogram in the local nonferrous metal market on reduced offtake by consuming industries amid weakening trend at London Metal Exchange. Other base metals however, held steady in the absence of worthwhile activity.
Traders said that reduced offtake by consuming industries amid a weak trend at LME led to decline in copper prices. Meanwhile, copper for 3 month delivery dropped 0.7% to USD 9,130 per tonne on the LME.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap remained under selling pressure and shed INR 2 each to INR 504, INR 527 and INR 488 per kilogram respectively.
Following were today's quotations per kilogram:
Tin ingot 833, zinc ingot 126.50, nickel plate 1,046 to 1,048, gun metal scrap 226 bell metal scrap 228, copper wire scrap 504, copper wire bar 527, copper mixed scrap 488, Utensil scrap 224, Chadripital 175.
Lead ingot 133, lead imported 135, aluminum ingots 102, sheet cutting 105, aluminum wire scrap 102 and aluminum utensils scrap 102.
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