Copper, nickel weaken on global cues, low demand

Copper and other base metals turned weak at the non-ferrous metal market today, tracking weak cues from global market and sluggish demand from consuming industries.
Sentiments turned easy after copper and other base metals retreated at the London Metal Exchange (LME) on signs of a weak demand outlook in China, the world's biggest consumer, traders said.
Besides, low demand at the spot markets from consuming industries too weighed on prices, they said.
Globally, at the LME, copper for three-month delivery fell 0.5 per cent to USD 5,163.50 per tonne.
In the national capital, copper mixed scrap eased Rs 3 trading at Rs 365 per kg, while nickel traded Re 1 down at Rs 904-909 per kg.

Lead ingot and lead imported also shed Rs 2 each at Rs 102 and Rs 103 per kg, respectively.

Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 106-112, Nickel plate (4x4) Rs 904-909, Gun metal scrap Rs 227, Bell metal scrap Rs 229, Copper mixed scrap Rs 365, Chadri deshi Rs 285.
Lead ingot Rs 102, Lead imported Rs 103, Aluminium ingots Rs 152, Aluminium sheet cutting Rs 148, Aluminium wire scrap Rs 148 and Aluminium utensils scrap Rs 146.