Prices of nickel and copper fell up to Rs 5 per kg at the local non-ferrous metal market today on emergence of selling by stockists amid a weak global trend.
Traders said stockists selling in tandem with a weak trend in base metals overseas on concern that demand will slow in China, the biggest metals user, and after Philippine lawmakers clarified last week that they won't seek an ore-export ban for at least seven years, mainly weighed on nickel futures here.
Globally, nickel for delivery in three months dropped 2.5 per cent to USD 16,551 a metric tonne on the London Metal Exchange.
In the national capital, nickel (4x4) and copper mixed scrap fell by Rs 5 and Rs 2 to Rs 1,094-1,100 and Rs 431 per kg, respectively.
Following are today's metal rates (in Rs per kg):
Zinc ingot 114-120, Nickel plate (4x4) 1,094-1,100, Gun metal scrap 227, Bell metal scrap 229, Copper mixed scrap 431, Chadri deshi 285.
Lead ingot 105, Lead imported 103, Aluminium ingots 166, Aluminium sheet cutting 167, Aluminium wire scrap 169 and Aluminium utensils scrap 166.
