Nickel, copper slide on reduced offtake, global cues

Prices of nickel and copper fell up to Rs 3 per kg at the local non-ferrous metals market today due to reduced industrial offtake amid a weak global trend.
Traders said sentiments turned bearish after nickel fell in global markets as data showed the metal's global oversupply widened.
Meanwhile, nickel for delivery in three months fell 0.3 per cent to USD 13,940 a metric tonne on the London Metal Exchange.
In the national capital, Nickel (4x4) and copper mixed scrap were down by Rs 3 and Rs 2 to Rs 1,050-1,055 and Rs 403 per kg, respectively.
Following are today's metal rates (in Rs per kg)

Zinc ingot Rs 116-122, Nickel plate (4x4) Rs 1,050-1,055, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 403, Chadri deshi Rs 285.
Lead ingot- Rs 108, Lead imported- Rs 109, Aluminium ingots- Rs 162, Aluminium sheet cutting- Rs 163, Aluminium wire scrap- Rs 165 and Aluminium utensils scrap- Rs 162.