Copper, nickel soften on low demand, weak global cues

Prices of copper and nickel declined by Rs 2 per kg at the local non-ferrous base metals market today on reduced offtake by consuming industries amid weak global trend.
Traders said besides sluggish demand from consuming industries, a weak global trend led to decline in copper and nickel prices.
Meanwhile, copper for delivery in three months retreated 0.7 per cent to USD 6,554.25 a tonne on the London Metal Exchange.
In the national capital, copper mixed scrap and nickel (4x4) fell by Rs 2 each to Rs 434 and Rs 1,058-1,059 per kg, respectively.
The following are today's metal rates per kg:

Zinc ingot 113-119, nickel plate (4x4) 1,058-1,059 gun metal scrap 227, bell metal scrap 229, copper mixed scrap 434, chadri deshi 285.
Lead ingot 130, lead imported 128, aluminium ingots 146, Aluminium sheet cutting 147, aluminium wire scrap 149 and aluminium utensils scrap 146.