Copper remains firm on global cues

PTI New Delhi | Updated on February 03, 2011

Copper maintained its upward march for the third straight day on Thursday by adding another Rs 2 per kg on the local non-ferrous metal market today, tracking firming trend at London Metal Exchange (LME).

Sentiment in copper remained firm after it advanced to records in London and New York as global manufacturing improved, boosting the demand outlook for the metal.

Meanwhile, copper for three-month delivery added 0.5 per cent to USD 9,993 a tonne on the LME.

Besides, pick-up in industrial demand also supported the upside in copper prices, traders said.

In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were enquired higher by Rs 2 each to Rs 506, Rs 529 and Rs 490 per kg, respectively.

Following were today’s quotations in Rs per kg:

Tin ingot 840, zinc ingot 133.50, nickel plate (4x4) 1,052-1,054, gun metal scrap 226 bell metal scrap 228, copper wire scrap 506, copper wire bar 529, copper mixed scrap 490, Utensil scrap 224, Chadripital 175.

Lead ingot 138, lead imported 140, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102.

Published on February 03, 2011

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