Copper, nickel slide on muted demand, global cues

Prices of copper and nickel fell by upto Rs 5 per kg per kg at the non-ferrous metal market today on tepid demand from consuming industries amid a weak trend overseas.

Traders said subdued demand from consuming industries at domestic spot market and a weak trend overseas, mainly led to decline in copper and nickel prices.

Globally, copper for delivery in three month ended down 0.3 per cent at USD 6,986 a metric tonne on the London Metal Exchange.

In the national capital, copper mixed scrap and nickel plate (4x4) drifted down by Rs 2 and Rs 5 to Rs 368 and Rs 767-777 per kg, respectively.

Following are today's metal rates (in Rs per kg): Zinc ingot Rs 114-120, Nickel plate (4x4) Rs 767-777, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 368, chadri deshi Rs 295.

Lead ingot Rs 121, lead imported Rs 127, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)