Copper and nickel prices declined upto Rs 5 per kg in the local non-ferrous metal market today on fresh selling by stockists, influenced by a weakening trend at the London Metal Exchange.
Traders said fresh selling by stockists in tandem with a weakening trend at the London Metal Exchange mainly led to a fall in copper and base metal prices.
Meanwhile, copper for three-month delivery declined by 1.6 per cent to $6,751 and zinc by 0.4 per cent to $1,910 a metric tonne on the London Metal Exchange (LME).
Sentiment turned weak, as entire base metals softened at the LME on fears that the demand may decline after the Federal Reserve chairman Ben S Bernanke said the US economic outlook was unusually uncertain.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap traded lower by Rs 2 each at Rs 362, Rs 381 and Rs 340, while nickel (4x4) traded lower by Rs 5 to Rs 862-976 per kilo, respectively.
Zinc ingot shed Rs 2 at Rs 118.50 per kg.
Following were today's quotations in Rs per kg:
Tin ingot 795, zinc ingot 118.50, nickel plate (4x4) 862 -976, gun metal scrap 226 bell metal scrap 228, copper wire scrap 362, copper wire bar 381, copper mixed scrap 340, utensil scrap 224, Chadripital 175
Lead ingot 116.50, lead imported 119.50, aluminium ingots 100, sheet cutting 103, aluminium wire scrap 100 and aluminium utensils scrap 100
