Nickel, copper slide on global cues, low demand

Prices of nickel and copper fell by up to Rs 5 per kg at the non-ferrous metal market today, tracking a weak trend overseas amid easing demand from consuming industries.
Traders said apart from a weak trend overseas, fall in demand from consuming industries at domestic spot market mainly led to a fall in nickel and copper prices.
Globally, nickel for delivery in three months fell 0.6 per cent to USD 11,760 a tonne at the London Metal Exchange yesterday.
In the national capital, nickel plate (4x4) and copper mixed scrap declined by Rs 5 and Rs 3 to Rs 755-760 and Rs 387 per kg, respectively.

Following are today's metal rates (in Rs per kg):
Zinc ingot Rs 120-126, Nickel plate (4x4) Rs 755-760, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 387, chadri deshi Rs 295.
Lead ingot Rs 121, lead imported Rs 127, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148.