MSN:Copper weakens on reduced industrial demand, weak Asian cues
New Delhi, Aug 29 (PTI) Copper traded lower by Rs 2 per kg in the local non-ferrous metal market today due to reduced industrial demand at prevailing levels amid a weak trend at Shanghai.
Traders said besides the fall in industrial demand at current levels, a weak trend in the metal at the Shanghai Futures Exchange kept the pressure on copper prices here.
At Shanghai, copper for November delivery fell by 0.60 per cent to 67,060 yuan per tonne (USD 10,505).
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were down by Rs 2 each to Rs 525, Rs 548 and Rs 510 per kg, respectively.
Following were today''s quotations in Rs per kg:
Tin ingot 835, zinc ingot 136.50, nickel plate (4x4) 1,080-1,082, gun metal scrap 226 bell metal scrap 228, copper wire scrap Rs 525, copper wire bar 548, copper mixed scrap 510, utensil scrap 224, chadripital 175.
Lead ingot 145, lead imported 150, aluminium ingots 112, sheet cutting 113, aluminium wire scrap 112 and aluminium utensils scrap 109.