Prices of copper and nickel drifted lower by upto Rs 3 per kg at the non-ferrous metals market today on weak global cues amid easing demand
from consuming industries.
Traders said sentiment turned bearish after London copper prices lost more ground today as hopes of progress on trade talks between Washington and Beijing faded, triggering
concerns over demand for industrial metals.
Globally, copper for delivery in three months lost 0.3 per cent to USD 5,986 a tonne on the London Metal Exchange.
Also, copper contract on the Shanghai Futures Exchange gave up 0.7 per cent to 48,240 yuan
(USD 7,017.75) a tonne.
Besides subdued demand from consuming industries at domestic spot market, weighed on sentiment, they said.
In the national capital, copper mixed scrap and nickel plate (4x4) fell by
Rs 2 and Rs 3 to Rs 438 and Rs 917-920 per kg respectively.
Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 131-137, nickel plate (4x4) Rs 917-920, gun metal scrap Rs 227,
bell metal scrap Rs 229, copper mixed scrap Rs 438, chadri deshi Rs 295.
Lead ingot Rs 140, lead imported Rs 147, aluminium ingots Rs 168, aluminium sheet
cutting Rs 164, aluminium wire scrap Rs 164 and aluminium utensils scrap Rs 162.
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