Copper, nickel weakens on global cues

Copper and nickel turned weak and prices fell by Rs 2 per kg at local market today, tracking a weakening global trend.
However, other base metals moved in a narrow range in limited deals and settled at last levels.
Traders said sentiment turned bearish after copper fell to over five-year low in global markets.
This was on speculation that demand growth may falter amid signs of uneven economic growth in the US, Germany and China, the largest metals consumers.
Meanwhile, copper for delivery in three months traded at USD 6,093.75 a metric tonne on the London Metal Exchange.
In the national capital, copper mixed scrap and nickel (4x4) were down by Rs 2 each to Rs 398 and Rs 1,083-1,089 per kg respectively.

Following are today's metal rates (in Rs per kg):
Zinc ingot 114-120, Nickel plate (4x4) 1,083-1,089, Gun metal scrap 227, Bell metal scrap 229, Copper mixed scrap 398, Chadri deshi 285.
Lead ingot 106, Lead imported 107, Aluminium ingots 166, Aluminium sheet cutting 167, Aluminium wire scrap 169 and Aluminium utensils scrap 166.