Copper, lead weaken on global cues

Copper and lead turned weak and traded lower by up to Rs 3 per kg on the local non-ferrous metal market today on weak trend overseas.

Sluggish demand from consuming industries also put some pressure on the select base metals prices.

Traders said besides weak trend in base metals at London Metal Exchange, fall in demand from domestic industries also put pressure on the select base metals here.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap turned weak and traded Rs 2 each lower at Rs 522, Rs 545, and Rs 506 per kg, respectively.

Lead ingot and lead imported also fell by Rs 2 each to Rs 137 and Rs 139 per kg respectively.

Following were today's quotations in Rs per kg: 

Tin ingot 838, zinc ingot 130.50, nickel plate (4x4) 1,063-1,065, gun metal scrap 226 bell metal scrap 228, copper wire scrap 522, copper wire bar 545, copper mixed scrap 506, Utensil scrap 224, Chadripital 175

Lead ingot 137, lead imported 139, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102.

(Source: http://www.business-standard.com/india/news/copper-lead-weakenglobal-cues/127231/on)