Copper strengthens on industrial demand

Copper strengthened by Rs. 2 per kg on the local non-ferrous metal market today on the back of increased industrial demand, amid rising trend in global markets.

Traders said pick up in industrial demand and reports of firming trend in global market mainly led to the rise in copper prices.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap remained in demand and added another Rs. 2 each to Rs. 525, Rs. 548 and Rs. 509 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 525, copper wire bar 548, copper mixed scrap 509, Utensil scrap 224, Chadripital 175.

Lead ingot 139, lead imported 141, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102.

(Source: http://www.thehindu.com/business/markets/article1492461.ece)