NEW DELHI: Copper and other base metals remained weak and prices fell up to Rs 5 per kg on the wholesale non ferrous metal market on Tuesday largely in tandem with weakening global trend.
Reduced offtake by consuming industries also dampened the trading sentiment. Trading sentiment remained bearish as industrial metals, including copper eased on concerns that probe into Goldman Sachs Group will widen after US regulators filed a suit agai nst the firm alleging fraud.
Meanwhile, copper fell 1.5 per cent to 7,645 dollar, nickel by 2.5 per cent to 26,030 dollar and lead 2.7 per cent to 2,200 dollar 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 5 each to Rs 369, Rs 390 and Rs 348 per kg, respectively.
Nickel (4x4) followed suit and traded lower by the same margin at Rs 915-1,030 per kg, while lead ingot and imported shed rupee two each at Rs 120 and Rs 122 per kg. Following were today's quotations Rs per kg:
Tin ingot 790, zinc ingot 118.00, nickel plate (4x4) 915-1,030, gun metal scrap 226 bell metal scrap 228, copper wire scrap 369, copper wire bar 390, copper mixed scrap 348.00, Utensil scrap 227, Chadripital 175.
Lead ingot 120, lead imported 122, aluminium ingots 103,sheet cutting 101, aluminium wire scrap 100 and aluminium utensils scrap 99. - PTI
