ET:Copper, zinc weaken on reduced industrial offtake
NEW DELHI: Prices of copper and zinc declined by Rs 2 per kg in the local non-ferrous metals market today on reduced industrial offtake amid a weak global trend.
The sentiment weakened after copper declined in overseas markets after the European Union's outlook was cut to negative by Moody's Investors Service ahead of meetings of the region's policymakers today.
Meanwhile, copper fell 0.3 per cent to USD 7,654.25 a tonne on the London Metal Exchange.
In the national capital, copper mixed scrap and zinc ingot declined by Rs 2 each to Rs 393 and Rs 109-113 per kg, respectively.
The following are metal rates per kg: Zinc ingot 109-113, nickel plate (4x4) 1,028-1,031, gun metal scrap 226, bell metal scrap 228, copper mixed scrap 393, chadri deshi 285.
Lead ingot 133, lead imported 131, aluminium ingots 123, sheet cutting 125, aluminium wire scrap 130 and aluminium utensils scrap 124.
