Copper, nickel weaken on subdued demand, global cues

Prices of copper and nickel eased by Rs 2 per kg at the non-ferrous metal market today following sluggish demand from consuming industries coupled with a weak trend overseas.

Traders said besides tepid demand from consuming industries at domestic spot market, weak trend overseas mainly led to decline in copper and nickel prices.

Globally, copper for delivery in three month fell 0.4 per cent to USD 6,939.00 per metric tonne on the London Metal Exchange.

In the national capital, copper mixed scrap and nickel plate (4x4) were down by Rs 2 each to Rs 425 and Rs 836-841 per kg respectively.

Following are today's metal rates (in Rs per kg):
Lead ingot Rs 127, lead imported Rs 134, aluminium ingots Rs 160, aluminium sheet cutting Rs 156, aluminium wire scrap Rs 156 and aluminium