NEW DELHI: Copper and zinc prices declined up to Rs 2 per kg at the wholesale non-ferrous metal market on Thursday largely in line with weakening trend at the London Metal Exchange.
Trading sentiment in copper turned bearish after reports that the metal in London fell as the dollar rose and because of concern that the outlook for demand from China, the world’s largest user, may not justify recent gains.
Meanwhile, copper for three-month contract fell by 0.5 per cent to $7,495 and zinc by 0.8 per cent to $2,329 a metric tonne at the London Metal Exchange.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap, which remained in demand in last two trading sessions, declined by Rs 2 each to Rs 355, Rs 376 and Rs 334, and zinc ingot shed Re 1 at Rs 111 per kg.
Following were today’s quotations Rs per kg: Tin ingot 785, zinc ingot 111.00, nickel plate (4x4) 916 -1,031,gun metal scrap 228 bell metal scrap 230, copper wire scrap 355, copper wire bar 376, copper mixed scrap 334.00, Utensil scrap 227, Chadripital 1 75.
Lead ingot 116, lead imported 118, aluminium ingots 103,sheet cutting 101, aluminium wire scrap 100 and aluminium utensils scrap 99. - PTI
