Copper, nickel soften on muted demand, global cues

Prices of copper and nickel drifted lower by Rs 2 at the non-ferrous metal market today on tepid demand from consuming industries along with a weak global trend.
Traders said, besides subdued demand from consuming industries at domestic spot market, a weak trend in global markets after workers agreed to end a strike at the world's top copper mine in Chile, led to the down trend.
Meanwhile, copper for delivery in three months ended down 0.4 per cent at USD 5,804 per metric tonne on the London Metal Exchange on Friday.
In the national capital, copper mixed scrap and nickel plate (4x4) were trading down by Rs 2 each to Rs 353 and Rs 792-797 per kg, respectively.

Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 102-108, Nickel plate (4x4) Rs 792-797, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 353, chadri deshi Rs 295.
Lead ingot Rs 89, lead imported Rs 95, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148.