Copper, nickel slide on weak global cues, muted demand

Copper and nickel eased by Rs 2 per kg at the non-ferrous metals market today, tracking a weak trend at the London Metal Exchange (LME) after China lowered the yuan against the dollar.
Sluggish demand from consuming industries too weighed on prices.
Traders attributed the fall in copper and nickel prices to a weak trend in base metals at the LME after China devalued its currency against the dollar amid worries over slowing growth in the world's second largest economy.
Meanwhile, global copper fell by 0.6 per cent at the LME.
In the national capital, copper mixed scrap and nickel plate (4x4) were trading lower by Rs 2 each to Rs 343 and Rs 828-833 per kg respectively.

Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 94-100, Nickel plate (4x4) Rs 828-833, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 343, Chadri deshi Rs 295.
Lead ingot Rs 76, lead imported Rs 82, aluminium ingots Rs 140, aluminium sheet cutting Rs 136, aluminium wire scrap Rs 136 and aluminium utensils scrap Rs 134.