Prices of copper and nickel declined up by to Rs 5 per kg in the local non-ferrous metal market today on fall in demand at prevailing higher levels amid a weakening global trend.
Trading sentiments turned bearish as copper in London dropped to a two-week low on demand concerns after data showed that manufacturing in China and the US expanded at slower pace.
Meanwhile, copper for three-month delivery fell by 1.1% to $9,219.75, the lowest price since April 18, and nickel slid one per cent to $26,580 a metric tonne on the London Metal Exchange.
Traders said fall in demand from consuming industries amid a weakening global trend mainly led to the fall in select base metal prices.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap declined by Rs 2 each to Rs 515, Rs 538 and Rs 499, respectively.
Similarly, nickel (4x4) lost Rs 5 to Rs 1,075-1,077 per kg.
Following were today's quotations per kg:
Tin ingot 860, zinc ingot 136.50, nickel plate (4x4) 1,075-1,077, gun metal scrap 226 bell metal scrap 228, copper wire scrap 515, copper wire bar 538, copper mixed scrap 499, Utensil scrap 224, Chadripital 175
Lead ingot 143, lead imported 145, aluminium ingots 109, sheet cutting 110, aluminium wire scrap 110 and aluminium utensils scrap 107
