Copper, nickel weaken on sluggish industrial demand

Prices of copper and nickel declined by Rs 2 per kg at the local non-ferrous metals market today owing to reduced industrial offtake amid a weak global trend.
Traders said sentiments turned bearish as most industrial metals retreated in global markets after a record trade surplus for China, highlighted weak domestic demand.
Meanwhile, copper for delivery in three months slipped 0.1 per cent to USD 5,644 a metric tonne on the London Metal Exchange.
In the national capital, copper mixed scrap and nickel (4x4) were down by Rs 2 each to Rs 398 and Rs 1058-1063 per kg respectively.
Following are today's metal rates (in Rs per kg):

Zinc ingot 112-118, Nickel plate (4x4) 1,058-1,063, Gun metal scrap 227, Bell metal scrap 229, Copper mixed scrap 398, Chadri deshi 285.
Lead ingot 102, Lead imported 103, Aluminium ingots 164, Aluminium sheet cutting 165, Aluminium wire scrap 167 and Aluminium utensils scrap 164.