India: Copper rises on higher global trend

Copper prices rose by Rs 2 per kg in the local non-ferrous metal market today on sustained buying by stockists influenced by rising trend at the London Metal Exchange.

Traders said sustained buying by stockists to meet increased industrial demand and a firming trend at London Metal Exchange mainly helped copper to trade higher.

Meanwhile, copper for three-month delivery rose by $6.50 to $9,586.50 a metric tonne on the London Metal Exchange.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap continued to rise and added another Rs 2 each to Rs 524, Rs 547 and Rs 508 per kg, respectively.

Following were today's quotations per kg:

Tin ingot 857, zinc ingot 134.50, nickel plate (4x4) 1,082-1,084, gun metal scrap 226 bell metal scrap 228, copper wire scrap 524, copper wire bar 547, copper mixed scrap 508, Utensil scrap 224, Chadripital 175

Lead ingot 143, lead imported 145, aluminium ingots 104, sheet cutting 105, aluminium wire scrap 105 and aluminium utensils scrap 102

(Source: http://www.business-standard.com/india/news/copper-riseshigher-global-trend/132858/on)